CNOOC (NYSE:CEO) Reaches New 52-Week Low at $142.23

Shares of CNOOC Ltd (NYSE:CEO) hit a new 52-week low during trading on Friday . The company traded as low as $142.23 and last traded at $142.50, with a volume of 3671 shares trading hands. The stock had previously closed at $145.70.

A number of brokerages have recently commented on CEO. Zacks Investment Research raised CNOOC from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Daiwa Capital Markets cut CNOOC from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 17th. CICC Research raised CNOOC from a “neutral” rating to an “outperform” rating in a research note on Monday, July 22nd. Macquarie raised CNOOC from a “neutral” rating to an “outperform” rating in a research note on Thursday, June 6th. Finally, JPMorgan Chase & Co. raised CNOOC from a “neutral” rating to an “overweight” rating in a research note on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $202.00.

The business has a 50 day moving average of $160.70 and a 200-day moving average of $170.52. The company has a current ratio of 2.71, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $64.20 billion, a P/E ratio of 8.34, a PEG ratio of 1.12 and a beta of 1.09.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. bought a new stake in CNOOC during the 2nd quarter worth approximately $51,000. Steward Partners Investment Advisory LLC acquired a new position in CNOOC during the 2nd quarter worth approximately $70,000. Icon Wealth Partners LLC acquired a new position in CNOOC during the 1st quarter worth approximately $96,000. Shilanski & Associates Inc. acquired a new position in CNOOC during the 2nd quarter worth approximately $205,000. Finally, Vicus Capital acquired a new position in CNOOC during the 1st quarter worth approximately $211,000. 1.92% of the stock is owned by institutional investors and hedge funds.

About CNOOC (NYSE:CEO)

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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