CNOOC’s Stock Price Soars to 20.00 HKD, Achieving a Positive Shift of +1.83%

CNOOC (883)

20.00 HKD +0.36 (+1.83%) Volume: 91.67M

Explore the robust performance of CNOOC’s stock price, currently at 20.00 HKD, experiencing a positive surge of +1.83% this trading session, with a substantial trading volume of 91.67M. Year-to-date, CNOOC (883) has showcased a remarkable growth of +53.85%, making it a lucrative choice for savvy investors.

Latest developments on CNOOC

CNOOC Ltd has recently made significant strides in its exploration efforts in the South China Sea, with the discovery of over 3.5 trillion cubic feet of gas. This breakthrough adds over 100 billion cubic meters of proved gas in-place to the company’s portfolio, marking a key milestone in its deepwater field revitalisation strategy. The pioneering world-class discovery showcases CNOOC Ltd‘s commitment to expanding its presence in the region and has sparked investor interest in the company’s stock price movements today.

CNOOC on Smartkarma

Analysts on Smartkarma, including Travis Lundy, have been closely following the analyst coverage of CNOOC Ltd. In a recent report titled “HK Connect SOUTHBOUND Flows (To 7 June 2024)”, Lundy noted big net buying on HK Connect by SOUTHBOUND, with expectations of CNOOC buying ahead of ex-div. The report highlighted that valuations are acceptable, flows are good, and policy changes are afoot, indicating potential inflows into CNOOC Ltd.

In another report by Travis Lundy on Smartkarma, titled “A/H Premium Tracker (To 8 Mar 2024)”, it was mentioned that the Quiddity AH Pairs Portfolio tilted long liquid Hs and outperformed them, with CNOOC being the culprit for a fall. The report also discussed the narrowing of wide spreads and widening of narrow spreads, with SOUTHBOUND being a net buyer every day since the end of Chinese New Year. This analysis provides valuable insights into the positioning and performance of CNOOC Ltd in the market.

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

Based on the Smartkarma Smart Scores, CNOOC Ltd has a positive long-term outlook. The company scores well in Growth, Resilience, and Momentum, indicating a strong potential for future expansion and stability. With a focus on exploring, developing, and selling crude oil and natural gas, CNOOC Ltd‘s diverse oil and gas assets both domestically and internationally position it well for continued success.

Although CNOOC Ltd‘s scores in Value and Dividend are not as high as the other factors, the overall outlook for the company remains promising. As it continues to focus on its key areas of operation in offshore China and expands its presence in other regions such as Asia, Africa, and North America, CNOOC Ltd is well-positioned to capitalize on opportunities for growth and profitability in the global energy market.

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.
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