CNOOC Ltd (NYSE:CEO) announced a semiannual dividend on Friday, March 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, June 5th will be paid a dividend of 5.0955 per share by the oil and gas company on Wednesday, July 17th. This represents a dividend yield of 5.81%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a positive change from CNOOC’s previous semiannual dividend of $3.82.

CNOOC has decreased its dividend by an average of 6.6% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. CNOOC has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CNOOC to earn $18.58 per share next year, which means the company should continue to be able to cover its $9.13 annual dividend with an expected future payout ratio of 49.1%.

Shares of NYSE:CEO opened at $162.37 on Monday. CNOOC has a 52 week low of $142.94 and a 52 week high of $202.38. The company has a current ratio of 2.71, a quick ratio of 2.62 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $72.49 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 1.13 and a beta of 1.09.

A number of equities research analysts have commented on the stock. Daiwa Capital Markets assumed coverage on shares of CNOOC in a research report on Monday, May 20th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised shares of CNOOC from a “neutral” rating to an “overweight” rating in a research report on Friday, May 17th. Zacks Investment Research raised shares of CNOOC from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 12th. Goldman Sachs Group downgraded shares of CNOOC from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, February 19th. Finally, UBS Group downgraded shares of CNOOC from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $202.00.

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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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Dividend History for CNOOC (NYSE:CEO)

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