CNOOC Ltd Raised to “Buy” at Jefferies Group (CEO)

CNOOC Ltd (NYSE:CEO) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports.

Other equities research analysts have also recently issued reports about the stock. Analysts at Bernstein upgraded shares of CNOOC Ltd to an “outperform” rating in a research note on Tuesday. Separately, analysts at Sanford C. Bernstein upgraded shares of CNOOC Ltd from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of CNOOC Ltd in a research note on Thursday, September 11th. They now have a $201.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $201.00.

CNOOC Ltd (NYSE:CEO) traded down 1.00% on Wednesday, hitting $172.08. The stock had a trading volume of 26,416 shares. CNOOC Ltd has a 52 week low of $147.24 and a 52 week high of $209.00. The stock has a 50-day moving average of $186.1 and a 200-day moving average of $175.7. The company has a market cap of $76.829 billion and a price-to-earnings ratio of 8.60.

The company also recently declared a semiannual dividend, which is scheduled for Thursday, October 23rd. Stockholders of record on Friday, September 12th will be given a dividend of $3.2257 per share. This represents a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 10th.

CNOOC Limited is an investment holding company. The Company, along with its subsidiaries, is a producer of offshore crude oil and natural gas and an independent oil and gas exploration and production company.