CNOOC’s Stock Price Stumbles to 20.75 HKD, Marking a 1.43% Drop: A Closer Look at the Performance

CNOOC (883)

20.75 HKD -0.30 (-1.43%) Volume: 177.8M

Discover the latest on CNOOC’s stock price, currently trading at 20.75 HKD with a slight dip of -1.43% this session, but showcasing a robust YTD increase of +59.62%. With a substantial trading volume of 177.8M, CNOOC (883) continues to demonstrate strong market performance.

Latest developments on CNOOC

CNOOC Ltd, the Chinese state-owned oil and gas company, has faced challenges in meeting its capital expenditure targets for its new energy business in recent years. Despite this, the company remains optimistic about the future, as global energy demand is expected to continue rising. Investors are closely watching these developments, which may have an impact on CNOOC Ltd‘s stock price movements today.

CNOOC on Smartkarma

Analysts on Smartkarma, such as Travis Lundy, have been closely tracking 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 behind a slight dip in performance for the Quiddity AH Pairs Portfolio. Despite this, overall trends show that southbound flows have been consistently net buyers since Chinese New Year, while northbound flows have been sellers this week. The report provides detailed tables, charts, and measures to monitor A/H premium positioning and volatility over time.

Another report by Travis Lundy, “HK Connect SOUTHBOUND Flows (To 8Dec23); CNOOC & China Mobile Both Now To The Buy Side, Tencent Not,” highlights strong net inflows of HK$11.2bn, with both CNOOC and China Mobile experiencing significant buying activity. However, despite the positive flows, Hs underperformed their As within the H/A Pairs by 60+bp. The report suggests reversion tendencies in southbound flows after weeks of momentum, with high-dividend SOEs seeing notable action while the tech sector experienced 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

Based on the Smartkarma Smart Scores, CNOOC Ltd has a positive long-term outlook. The company scores well in terms of Resilience and Momentum, indicating a strong ability to weather economic downturns and maintain positive momentum in its operations. With a solid score in Growth as well, CNOOC Ltd is positioned for potential expansion and development in the future.

Although CNOOC Ltd scores lower in Value and Dividend, the overall outlook for the company remains favorable. As a company that explores, develops, and sells crude oil and natural gas both domestically and internationally, CNOOC Ltd has a diverse portfolio of assets that provide stability and growth opportunities. Investors may find CNOOC Ltd to be a promising prospect for long-term investment.

Summary: CNOOC Limited is a company that focuses on exploring, developing, producing, and selling crude oil and natural gas. They have operations in various regions in offshore China as well as internationally in Asia, Africa, North America, South America, and Oceania.

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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