Shares of CNOOC Ltd. (NYSE:CEO) gapped up before the market opened on Wednesday . The stock had previously closed at $125.45, but opened at $125.50. CNOOC shares last traded at $127.66, with a volume of 99,669 shares.

Several analysts recently commented on CEO shares. BOCOM International Holdings raised CNOOC from a “neutral” rating to a “buy” rating in a report on Tuesday, June 21st. Mizuho raised CNOOC from a “neutral” rating to a “buy” rating in a report on Tuesday, May 17th. Morgan Stanley lowered CNOOC from an “overweight” rating to an “equal weight” rating in a report on Tuesday, May 10th. Finally, Nomura Holdings Inc. upgraded CNOOC from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $110.00.

The stock has a market cap of $57.30 billion and a price-to-earnings ratio of 19.16. The firm’s 50-day moving average is $123.09 and its 200-day moving average is $113.82.

Several hedge funds and institutional investors have modified their holdings of CEO. Dimensional Fund Advisors LP raised its position in shares of CNOOC by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 778,857 shares of the company’s stock worth $81,294,000 after buying an additional 69,450 shares in the last quarter. Trilogy Global Advisors LP raised its position in shares of CNOOC by 14.8% in the fourth quarter. Trilogy Global Advisors LP now owns 386,472 shares of the company’s stock worth $40,340,000 after buying an additional 49,804 shares in the last quarter. First Trust Advisors LP raised its position in shares of CNOOC by 567.5% in the fourth quarter. First Trust Advisors LP now owns 85,631 shares of the company’s stock worth $8,938,000 after buying an additional 72,803 shares in the last quarter. GAM Holding AG raised its position in shares of CNOOC by 9.9% in the fourth quarter. GAM Holding AG now owns 35,589 shares of the company’s stock worth $3,715,000 after buying an additional 3,220 shares in the last quarter. Finally, Comerica Bank raised its position in shares of CNOOC by 2.4% in the fourth quarter. Comerica Bank now owns 24,126 shares of the company’s stock worth $2,301,000 after buying an additional 576 shares in the last quarter.

CNOOC Limited is a holding company. The Company is an upstream company engaged in the exploration, development and production of oil and natural gas. The Company operates through three segments: exploration and production, trading business and corporate. The Company is engaged in the upstream operating activities of the conventional oil and gas, shale oil and gas, oil sands and other unconventional oil and gas business.

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