OREANDA-NEWS. March 27, 2014. CNOOC (NYSE:CEO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued, AnalystRatingsNetwork reports. They currently have a USD165.00 price objective on the stock. Zacks‘s price target points to a potential upside of 5.14% from the stock’s previous close.

Zacks’ analyst wrote, “We are maintaining our Neutral recommendation on the Chinese exploration and production company CNOOC Ltd. Although the company reported strong revenues in the third quarter, we are less bullish on the near term due to cascading realizations, a flattish production outlook for 2013 and the absence of catalysts. CNOOC’s growth profile should get a boost over the next 3 to 5 years from numerous development projects offshore China, international growth from recent acquisitions, and intensive exploration and development programs with its partners. Finally, the February acquisition of Canadian energy producer Nexen Inc. brought CNOOC substantial reserves in the Canadian oil sands.”

A number of other analysts have also recently weighed in on CEO. Analysts at Goldman Sachs downgraded shares of CNOOC from a “buy” rating to a “neutral” rating in a research note on Thursday, February 27th. Separately, analysts at Nomura downgraded shares of CNOOC from a “neutral” rating to a “reduce” rating in a research note on Tuesday, January 21st. Finally, analysts at Credit Suisse downgraded shares of CNOOC from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. CNOOC presently has an average rating of “Hold” and an average price target of USD 204.30.

Shares of CNOOC (NYSE:CEO) traded down 3.49% during mid-day trading on Tuesday, hitting USD 151.46. The stock had a trading volume of 156,250 shares. CNOOC has a 52 week low of USD 147.88 and a 52 week high of USD 211.49. The stock has a 50-day moving average of \\$159.8 and a 200-day moving average of USD 188.5. The company has a market cap of USD 67.621 billion and a price-to-earnings ratio of 6.65.
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CNOOC Limited, incorporated on August 20, 1999, is an investment holding company. The Company, through its subsidiaries, is engaged in the exploration, development, production and sales of crude oil and natural gas and other petroleum products.