CNOOC Ltd. (NYSE:CEO) gapped down prior to trading on Monday . The stock had previously closed at $122.48, but opened at $123.90. CNOOC shares last traded at $126.24, with a volume of 99,885 shares trading hands.

Several equities research analysts recently weighed in on the stock. Nomura upgraded shares of CNOOC from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 18th. Credit Suisse Group AG cut shares of CNOOC from a “neutral” rating to an “underperform” rating in a research note on Sunday, August 7th. Morgan Stanley lowered shares of CNOOC from an “overweight” rating to an “equal weight” rating in a report on Tuesday, May 10th. Mizuho raised shares of CNOOC from a “neutral” rating to a “buy” rating in a report on Tuesday, May 17th. Finally, BOCOM International Holdings raised shares of CNOOC from a “neutral” rating to a “buy” rating in a report on Tuesday, June 21st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. CNOOC has a consensus rating of “Hold” and an average target price of $110.00.

The firm’s 50 day moving average price is $122.74 and its 200 day moving average price is $117.44. The company has a market capitalization of $56.55 billion and a price-to-earnings ratio of 18.91.

An institutional investor recently raised its position in CNOOC stock. Bank of Montreal Can raised its position in shares of CNOOC Ltd. (NYSE:CEO) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,766 shares of the company’s stock after buying an additional 1,653 shares during the period. Bank of Montreal Can’s holdings in CNOOC were worth $1,646,000 as of its most recent filing with the SEC.

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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