FY2017 EPS Estimates for CNOOC Limited Lowered by Jefferies Group (CEO)

CNOOC Limited (NYSE:CEO) – Equities research analysts at Jefferies Group lowered their FY2017 earnings estimates for shares of CNOOC Limited in a research report issued to clients and investors on Tuesday. Jefferies Group analyst L. Yu now forecasts that the oil and gas company will earn $8.42 per share for the year, down from their previous forecast of $8.59. Jefferies Group also issued estimates for CNOOC Limited’s FY2018 earnings at $12.33 EPS, FY2019 earnings at $14.33 EPS and FY2020 earnings at $16.16 EPS.

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CEO has been the topic of several other research reports. BidaskClub upgraded CNOOC Limited from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Bank of America Corporation upgraded CNOOC Limited from an “underperform” rating to a “neutral” rating in a report on Friday, August 25th. HSBC Holdings plc upgraded CNOOC Limited from a “hold” rating to a “buy” rating in a report on Monday, June 5th. Zacks Investment Research cut CNOOC Limited from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Finally, J P Morgan Chase & Co upgraded CNOOC Limited from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $131.00.

Shares of CNOOC Limited (NYSE CEO) opened at 121.81 on Thursday. The stock has a market capitalization of $54.38 billion, a price-to-earnings ratio of 15.04 and a beta of 0.75. CNOOC Limited has a 1-year low of $108.05 and a 1-year high of $138.36. The firm’s 50-day moving average is $113.78 and its 200-day moving average is $115.20.

A number of large investors have recently added to or reduced their stakes in CEO. Sit Investment Associates Inc. boosted its stake in CNOOC Limited by 34.0% in the first quarter. Sit Investment Associates Inc. now owns 1,675 shares of the oil and gas company’s stock valued at $201,000 after buying an additional 425 shares during the last quarter. Morningstar Investment Services LLC purchased a new stake in CNOOC Limited during the second quarter valued at approximately $219,000. Ronald Blue & Co. LLC boosted its stake in CNOOC Limited by 1.3% in the first quarter. Ronald Blue & Co. LLC now owns 1,737 shares of the oil and gas company’s stock valued at $208,000 after buying an additional 22 shares during the last quarter. Parametric Portfolio Associates LLC boosted its stake in CNOOC Limited by 6.2% in the first quarter. Parametric Portfolio Associates LLC now owns 123,071 shares of the oil and gas company’s stock valued at $14,744,000 after buying an additional 7,169 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in CNOOC Limited by 5.7% in the first quarter. Eqis Capital Management Inc. now owns 3,873 shares of the oil and gas company’s stock valued at $464,000 after buying an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 1.49% of the company’s stock.

The company also recently announced a semiannual dividend, which will be paid on Thursday, October 19th. Shareholders of record on Thursday, September 7th will be paid a $2.5567 dividend. This represents a yield of 4.23%. The ex-dividend date is Wednesday, September 6th.

CNOOC Limited 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.

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