JPMorgan Chase & Co. downgraded shares of CNOOC (NYSE:CEO) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports.

Several other brokerages also recently weighed in on CEO. Bank of America upgraded shares of CNOOC from a neutral rating to a buy rating in a research note on Tuesday. Zacks Investment Research downgraded shares of CNOOC from a buy rating to a hold rating in a research note on Thursday, January 11th. Nomura started coverage on shares of CNOOC in a research note on Thursday, December 7th. They issued a top pick rating and a $13.64 target price for the company. CLSA upgraded shares of CNOOC from a sell rating to an outperform rating in a research note on Friday, September 29th. Finally, Macquarie downgraded shares of CNOOC from an outperform rating to a neutral rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $99.55.

Shares of CNOOC (CEO) traded down $1.10 on Tuesday, reaching $156.36. 82,671 shares of the company’s stock traded hands, compared to its average volume of 95,153. CNOOC has a 52 week low of $108.05 and a 52 week high of $161.35. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.82 and a quick ratio of 1.71.

A number of institutional investors and hedge funds have recently made changes to their positions in CEO. Oaktree Capital Management LP raised its holdings in shares of CNOOC by 5.0% in the third quarter. Oaktree Capital Management LP now owns 223,071 shares of the oil and gas company’s stock worth $28,932,000 after buying an additional 10,646 shares during the last quarter. Stevens Capital Management LP purchased a new position in shares of CNOOC in the third quarter worth $736,000. First Trust Advisors LP raised its holdings in shares of CNOOC by 16.9% in the third quarter. First Trust Advisors LP now owns 54,176 shares of the oil and gas company’s stock worth $7,027,000 after buying an additional 7,851 shares during the last quarter. NorthCoast Asset Management LLC raised its holdings in shares of CNOOC by 15.5% in the third quarter. NorthCoast Asset Management LLC now owns 16,601 shares of the oil and gas company’s stock worth $2,153,000 after buying an additional 2,225 shares during the last quarter. Finally, OxFORD Asset Management LLP purchased a new position in shares of CNOOC in the third quarter worth $2,271,000. Institutional investors own 1.64% of the company’s stock.

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CNOOC Company Profile

CNOOC Limited is a Hong Kong-based investment holding company principally engaged in the exploration, production and trading of oil and gas. Its businesses include conventional oil and gas businesses, shale oil and gas businesses, oil sands businesses and other unconventional oil and gas businesses. The Company mainly operates businesses through three segments.

Analyst Recommendations for CNOOC (NYSE:CEO)

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