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

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered CNOOC from a “buy” rating to a “hold” rating in a report on Wednesday, November 21st. Goldman Sachs Group lowered CNOOC from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, February 19th. Finally, UBS Group upgraded CNOOC from a “neutral” rating to a “buy” rating in a report on Friday, November 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $214.00.

Shares of NYSE:CEO opened at $174.64 on Friday. CNOOC has a 1 year low of $138.99 and a 1 year high of $202.38. The company has a market cap of $77.23 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.63.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of CNOOC by 1,327.8% in the 3rd quarter. BlackRock Inc. now owns 165,159 shares of the oil and gas company’s stock worth $32,625,000 after acquiring an additional 153,592 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of CNOOC by 428.1% in the 3rd quarter. Hsbc Holdings PLC now owns 173,957 shares of the oil and gas company’s stock worth $34,363,000 after acquiring an additional 141,017 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of CNOOC in the 2nd quarter worth $16,847,000. LMR Partners LLP acquired a new stake in shares of CNOOC in the 4th quarter worth $9,773,000. Finally, Westpac Banking Corp acquired a new stake in shares of CNOOC in the 4th quarter worth $9,411,000. 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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