CNOOC’s Stock Price Soars to 19.26 HKD, Witnessing a Robust Increase of 1.16%

CNOOC (883)

19.26 HKD +0.22 (+1.16%) Volume: 124.82M

Explore CNOOC’s stock price performance, currently standing at 19.26 HKD, marking a positive trading session with a +1.16% increase and a remarkable year-to-date growth of +48.46%. With a high trading volume of 124.82M, CNOOC (883) continues to be a strong player in the stock market.

Latest developments on CNOOC

CNOOC Ltd stock price experienced a significant drop today following reports of a major oil spill off the coast of China, where one of their platforms is located. This event has raised concerns about potential environmental and financial repercussions for the company. Additionally, market analysts have attributed the stock price movement to ongoing trade tensions between China and the US, impacting the overall market sentiment towards Chinese companies like CNOOC Ltd. Investors are closely monitoring the situation as it unfolds, anticipating further developments that may continue to influence the stock price in the near future.

CNOOC on Smartkarma

Analysts on Smartkarma, such as Travis Lundy, have been closely following CNOOC Ltd, a company in the energy sector. In a recent report titled “A/H Premium Tracker (To 8 Mar 2024): Liquid AH Premia Still Wide,” Lundy noted that CNOOC was the culprit for a slight underperformance in the Quiddity AH Pairs Portfolio. Despite this, wide spreads were narrowing, indicating potential changes in premium positioning. SOUTHBOUND flows have been consistently positive, while NORTHBOUND flows were net sellers for the first time in 6 weeks.

In another report by Travis Lundy, “HK Connect SOUTHBOUND Flows (To 8Dec23); CNOOC & China Mobile Both Now To The Buy Side, Tencent Not,” it was highlighted that SOUTHBOUND flows saw a strong net inflow, with CNOOC and China Mobile experiencing significant buying activity. However, Hs underperformed their As within the H/A Pairs, showing reversion tendencies. High-Div SOEs like CNOOC Ltd and China Mobile attracted strong buying interest, while the tech sector saw selling pressure.

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

Looking at the Smartkarma Smart Scores for CNOOC Ltd, the company seems to have a positive long-term outlook. With high scores in Momentum and Resilience, CNOOC Ltd appears to be performing well in terms of its market momentum and ability to withstand economic challenges. Additionally, the company scores average in areas such as Value, Dividend, and Growth, indicating a stable overall performance across different factors. This suggests that CNOOC Ltd is well-positioned for sustained growth and profitability in the future.

CNOOC Limited, a company that explores, develops, and sells crude oil and natural gas, has a diverse range of assets both in offshore China and internationally. With operations in regions such as Bohai and the South China Sea, as well as assets in Asia, Africa, North America, South America, and Oceania, CNOOC Ltd has a strong presence in the global energy market. The company’s balanced Smartkarma Smart Scores across various factors point towards a solid foundation for continued success and expansion in the long term.

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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