CNOOC (NYSE:CEO) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $210.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.14% from the stock’s current price.

According to Zacks, “Cnooc Limited is a company that engages primarily in the exploration, development and production of crude oil and natural gas offshore China. We are the dominant producer of crude oil and natural gas and the only company permitted to conduct exploration and production activities with international oil and gas companies offshore China. “

NYSE CEO traded up $0.06 on Wednesday, hitting $187.26. 129,800 shares of the stock were exchanged, compared to its average volume of 138,994. The company has a current ratio of 2.63, a quick ratio of 2.52 and a debt-to-equity ratio of 0.33. CNOOC has a 52 week low of $125.56 and a 52 week high of $192.32. The firm has a market capitalization of $83.99 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Icon Wealth Partners LLC bought a new position in shares of CNOOC in the second quarter valued at about $100,000. Fiera Capital Corp bought a new position in shares of CNOOC in the second quarter valued at about $211,000. Greenleaf Trust bought a new position in shares of CNOOC in the second quarter valued at about $214,000. Vicus Capital bought a new position in shares of CNOOC in the second quarter valued at about $219,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of CNOOC in the second quarter valued at about $229,000. 1.81% of the stock is currently owned by hedge funds and other institutional investors.

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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