CNOOC (NYSE:CEO) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat reports.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded CNOOC from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Goldman Sachs Group downgraded CNOOC from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, February 19th. Finally, UBS Group upgraded CNOOC from a “neutral” rating to a “buy” rating in a research note on Friday, November 16th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. CNOOC currently has an average rating of “Buy” and a consensus price target of $214.00.

Shares of CEO stock opened at $177.57 on Friday. CNOOC has a 1-year low of $138.99 and a 1-year high of $202.38. The company has a current ratio of 2.63, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33. The firm has a market cap of $79.28 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 0.43 and a beta of 1.08.

A number of hedge funds have recently made changes to their positions in CEO. Dimensional Fund Advisors LP grew its stake in CNOOC by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 684,772 shares of the oil and gas company’s stock valued at $135,143,000 after purchasing an additional 3,203 shares during the last quarter. Renaissance Technologies LLC grew its stake in CNOOC by 8.1% during the 3rd quarter. Renaissance Technologies LLC now owns 615,652 shares of the oil and gas company’s stock valued at $121,616,000 after purchasing an additional 46,052 shares during the last quarter. Pendal Group Ltd grew its stake in CNOOC by 19.3% during the 4th quarter. Pendal Group Ltd now owns 337,338 shares of the oil and gas company’s stock valued at $53,466,000 after purchasing an additional 54,471 shares during the last quarter. Oaktree Capital Management LP grew its stake in CNOOC by 14.5% during the 4th quarter. Oaktree Capital Management LP now owns 315,837 shares of the oil and gas company’s stock valued at $48,149,000 after purchasing an additional 40,097 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in CNOOC by 428.1% during the 3rd quarter. Hsbc Holdings PLC now owns 173,957 shares of the oil and gas company’s stock valued at $34,363,000 after purchasing an additional 141,017 shares during the last quarter. Hedge funds and other institutional investors own 1.88% of the company’s stock.

About CNOOC

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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