Shares of CNOOC Ltd. (NYSE:CEO) gapped up before the market opened on Thursday . The stock had previously closed at $116.55, but opened at $116.85. CNOOC shares last traded at $119.11, with a volume of 61,672 shares trading hands.

Several analysts have weighed in on CEO shares. BOCOM International Holdings upgraded CNOOC from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 21st. Mizuho upgraded CNOOC from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 17th. Nomura upgraded CNOOC from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 18th. Finally, Morgan Stanley downgraded CNOOC from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. CNOOC has a consensus rating of “Buy” and an average target price of $110.00.

The stock has a 50-day moving average price of $122.78 and a 200 day moving average price of $115.71. The firm has a market cap of $53.29 billion and a P/E ratio of 17.55.

Several hedge funds have recently bought and sold shares of CEO. Dimensional Fund Advisors LP boosted its stake in 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 during the period. Bank of Montreal Can boosted its stake in CNOOC by 11.7% in the fourth quarter. Bank of Montreal Can now owns 15,766 shares of the company’s stock worth $1,646,000 after buying an additional 1,653 shares during the period. New York State Common Retirement Fund purchased a new stake in CNOOC during the fourth quarter worth approximately $1,764,000. Comerica Bank boosted its stake in 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 during the period. Finally, Sei Investments Co. boosted its stake in CNOOC by 159.3% in the fourth quarter. Sei Investments Co. now owns 12,184 shares of the company’s stock worth $1,272,000 after buying an additional 7,485 shares during the period.

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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