CNOOC (NYSE:CEO) was downgraded by UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, The Fly reports.
Other research analysts have also recently issued reports about the company. Citigroup cut CNOOC from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 11th. Daiwa Capital Markets cut CNOOC from an “outperform” rating to a “hold” rating in a report on Wednesday, February 26th. Credit Suisse Group downgraded CNOOC from an “outperform” rating to an “underperform” rating in a research report on Wednesday, March 11th. Bank of America lowered CNOOC from a “buy” rating to a “neutral” rating in a research note on Monday, March 9th. Finally, Zacks Investment Research cut CNOOC from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, March 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $172.00.
Shares of NYSE CEO traded up $3.80 during midday trading on Wednesday, reaching $98.14. 219,076 shares of the company were exchanged, compared to its average volume of 192,431. The stock’s 50-day moving average price is $133.64 and its 200-day moving average price is $151.18. The stock has a market cap of $39.73 billion, a P/E ratio of 5.75, a PEG ratio of 1.30 and a beta of 1.09. CNOOC has a one year low of $81.11 and a one year high of $193.66. The company has a quick ratio of 2.14, a current ratio of 2.21 and a debt-to-equity ratio of 0.30.
CNOOC Limited, an investment holding company, explores for, develops, produces, and sells crude oil, natural gas, and other petroleum products. It operates through Exploration and Production, and Trading Business segments. The company produces offshore crude oil and natural gas primarily in Bohai, Western South China Sea, Eastern South China Sea, and East China Sea in offshore China.
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