CNOOC’s Stock Price Soars to 19.16 HKD, Notching an Impressive +5.74% Uptick

CNOOC (883)

19.16 HKD +1.04 (+5.74%) Volume: 136.46M

Boosted by a remarkable +5.74% change this trading session, CNOOC’s stock price has soared to 19.16 HKD, further underlining its impressive YTD growth of +47.38%. With a robust trading volume of 136.46M, CNOOC (883) continues to demonstrate strong market performance and investor confidence.

Latest developments on CNOOC

In recent developments, CNOOC Ltd has seen significant stock price movements due to key events. The company is under scrutiny as China intensifies its crackdown, opening an investigation into the former Nexen chief executive. Despite this, CNOOC is also making strategic moves in Mozambique, partnering to increase oil and gas investment through offshore exploration deals. Furthermore, CNOOC Limited has released its 2023 Environmental, Social and Governance Report, indicating its commitment to sustainable practices.

CNOOC on Smartkarma

On Smartkarma, an independent investment research network, top independent analysts publish their research on companies like CNOOC Ltd. According to Travis Lundy, a provider on the platform, the Quiddity AH Pairs Portfolio, which tilts long liquid Hs, outperformed them but fell 11bp on the week. CNOOC Ltd was the culprit for this decrease, as it was also the big SB buy. The analyst also notes that wide spreads continue to narrow and narrow spreads continue to widen. The New/Better A-H Premium Tracker on Smartkarma provides tables, charts, and measures to track A/H premium positioning, southbound and northbound positioning/volatility in pairs over time, allowing investors to stay informed about market trends and make informed decisions.

In another report by Travis Lundy on Smartkarma, it is noted that the A/H premia for CNOOC Ltd were flat in the first week of the year. However, on liquid names, Hs slightly underperformed. The analyst also points out the high-dividend SOEs, which are seeing movement in the market. The A-H Premium Tracker on Smartkarma provides comprehensive data and analysis on A/H premium positioning, southbound and northbound flows, and volatility in pairs over time. The report suggests that it may still be a good time to go long on Hs vs As for the new year, as there are still wide discounts and potentially vulnerable A/H premia in the renewables space.

Travis Lundy‘s analysis on Smartkarma also covers the HK Connect SOUTHBOUND flows, which saw a strong net inflow of HK$11.2bn. Despite this, Hs underperformed their As within the H/A Pairs over the week by 60+bp. The report notes that this is a continuation of the reversion tendencies seen in previous weeks, after a period of momentum. The report also highlights the action in high-dividend SOEs, with both CNOOC Ltd and China Mobile seeing strong net buying as a percentage of volume, while tech was sold. Investors can stay updated on these market movements through the comprehensive data and analysis provided by the New and Better A-H Premium Tracker on Smartkarma.

A look at CNOOC Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

The long-term outlook for CNOOC Ltd is looking positive, according to the Smartkarma Smart Scores. With an overall score of 3 out of 5 for value and dividend, the company is showing steady performance in these areas. This is a good sign for investors as it indicates that CNOOC Ltd is providing good returns on their investments.

Additionally, the company is scoring high marks in growth, resilience, and momentum with scores of 4 and 5. This suggests that CNOOC Ltd is well-positioned for future growth and has the ability to withstand any potential challenges. With a diverse portfolio of oil and gas assets both domestically and internationally, the company has a strong foundation for continued success.

Overall, CNOOC Ltd‘s Smartkarma Smart Scores paint a promising picture for the company’s long-term outlook. With solid performance in key areas and a diverse range of assets, CNOOC Ltd is poised for continued growth and success in the energy industry.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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