not vested
CNOOC (00883.HK) rated Overweight with target cut to $17.72 - MS
2014-01-21
Morgan Stanley noted in a research report that CNOOC (00883.HK) +0.020 (0.164%) Short selling $50.85M; Ratio 6.807%
2014 production target was lower than that in the previous report by 2-3%, and the probability for a negative surprise was reduced.
However, the capex was higher than expectation, so buying CHINA OILFIELD (02883.HK) -0.550 (2.576%) Short selling $4.30M; Ratio 1.552% would be a good hedge. With the uncertainties cleared, the rebound in oil production of CNOOC may lead to re-valuation.
The rating is set at Overweight, with target price reduced from $18.91 to $17.72, Morgan Stanley said.
Source: AAStocks Financial News
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CNOOC 0883
Re: CNOOC 0883
by winston » Sat Feb 01, 2014 8:35 pm
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Re: CNOOC 0883
by winston » Sat Feb 01, 2014 8:37 pm
not vested
CNOOC (00883.HK) downgraded to Neutral, target reduced to $16 - CS
2014-01-21
CNOOC (00883.HK) +0.020 (0.164%) Short selling $50.85M; Ratio 6.807% 's capex is expected to increase from US$6.4 billion in 2011 to US$14-16 billion this year, while its output is expected to be lower than estimates, Credit Suisse mentioned in a report.
The broker downgraded the stock's rating from Overweight to Neutral with target price reduced from $20 to $16.
Source: AAStocks Financial News
CNOOC (00883.HK) downgraded to Neutral, target reduced to $16 - CS
2014-01-21
CNOOC (00883.HK) +0.020 (0.164%) Short selling $50.85M; Ratio 6.807% 's capex is expected to increase from US$6.4 billion in 2011 to US$14-16 billion this year, while its output is expected to be lower than estimates, Credit Suisse mentioned in a report.
The broker downgraded the stock's rating from Overweight to Neutral with target price reduced from $20 to $16.
Source: AAStocks Financial News
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Re: CNOOC 0883
by winston » Mon Mar 31, 2014 10:00 am
not vested
<Blue Chip Results>CNOOC (00883.HK) 2013 net profit down 11.35%; fin div HK32 cents
CNOOC (00883.HK) reported financial results for the year ended 31 December 2013.
Revenue rose 15.4% yearly to RMB285.857 billion.
Net profit declined 11.35% year-on-year to RMB56.461 billion.
EPS was RMB1.26, and final dividend remained stable at HK32 cents. Special oil gain levy dipped 10.92% to RMB23.42 billion, mainly due to declined oil sales in offshore China.
A total of 7 new projects commenced productions last year.
Net production jumped 20.2% yearly to 4.117 million BOE, topping the annual production target.
The 2014 production target was set at 4.22-4.35 million BOE.
Capex in 2013 was RMB92.43 billion.
Source: AAStocks Financial News
<Blue Chip Results>CNOOC (00883.HK) 2013 net profit down 11.35%; fin div HK32 cents
CNOOC (00883.HK) reported financial results for the year ended 31 December 2013.
Revenue rose 15.4% yearly to RMB285.857 billion.
Net profit declined 11.35% year-on-year to RMB56.461 billion.
EPS was RMB1.26, and final dividend remained stable at HK32 cents. Special oil gain levy dipped 10.92% to RMB23.42 billion, mainly due to declined oil sales in offshore China.
A total of 7 new projects commenced productions last year.
Net production jumped 20.2% yearly to 4.117 million BOE, topping the annual production target.
The 2014 production target was set at 4.22-4.35 million BOE.
Capex in 2013 was RMB92.43 billion.
Source: AAStocks Financial News
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Re: CNOOC 0883
by winston » Mon Apr 07, 2014 4:42 pm
CNOOC (00883.HK) upgraded to Outperform with target cut to $14 by Stanchart
2014-04-07
In the latest research report, Standard Chartered noted that CNOOC (00883.HK) +0.200 (1.664%) Short selling $4.02M; Ratio 0.984% stock price has faded 20% since the beginning of 2014, underperforming against SINOPEC CORP (00386.HK) +0.050 (0.720%) Short selling $24.13M; Ratio 7.812% and PETROCHINA (00857.HK) +0.010 (0.115%) Short selling $56.70M; Ratio 23.541% by 19% to 29%.
The Bank believes that the current price has fully reflected the relatively weaker earnings, and it shows compelling valuation by 25% to 40% discount in P/B and P/E against its peers.
The rating was raised to Outperform with target cut from $15 to $14.
Source: AAStocks Financial News
2014-04-07
In the latest research report, Standard Chartered noted that CNOOC (00883.HK) +0.200 (1.664%) Short selling $4.02M; Ratio 0.984% stock price has faded 20% since the beginning of 2014, underperforming against SINOPEC CORP (00386.HK) +0.050 (0.720%) Short selling $24.13M; Ratio 7.812% and PETROCHINA (00857.HK) +0.010 (0.115%) Short selling $56.70M; Ratio 23.541% by 19% to 29%.
The Bank believes that the current price has fully reflected the relatively weaker earnings, and it shows compelling valuation by 25% to 40% discount in P/B and P/E against its peers.
The rating was raised to Outperform with target cut from $15 to $14.
Source: AAStocks Financial News
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Re: CNOOC 0883
by winston » Tue Apr 08, 2014 5:58 am
not vested
CNOOC mulls sale offshore
CNOOC Ltd (0883), China's biggest offshore oil and gas explorer, is considering selling its stake in Argentinian fuel producer Bridas Corp to free up money for other projects, according to people with knowledge of the deliberations.
The state-owned producer recently reviewed its overseas projects and is weighing a sale of the Bridas holding if it can make a profit on the disposal.
CNOOC bought 50 percent of Bridas for US$3.1 billion (HK$24.18 billion) in 2010, while the rest is owned by Argentina's billionaire Bulgheroni brothers.
CNOOC is under pressure to cut costs after boosting planned capital spending for the year by 31 percent while output is seen rising 5.6 percent.
Source: BLOOMBERG
CNOOC mulls sale offshore
CNOOC Ltd (0883), China's biggest offshore oil and gas explorer, is considering selling its stake in Argentinian fuel producer Bridas Corp to free up money for other projects, according to people with knowledge of the deliberations.
The state-owned producer recently reviewed its overseas projects and is weighing a sale of the Bridas holding if it can make a profit on the disposal.
CNOOC bought 50 percent of Bridas for US$3.1 billion (HK$24.18 billion) in 2010, while the rest is owned by Argentina's billionaire Bulgheroni brothers.
CNOOC is under pressure to cut costs after boosting planned capital spending for the year by 31 percent while output is seen rising 5.6 percent.
Source: BLOOMBERG
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Re: CNOOC 0883
by winston » Wed Apr 16, 2014 1:46 pm
not vested
CNOOC (00883.HK) rated Neutral, target lifted to $13.1 - UBS
2014-04-16
UBS lifted Brent crude oil price forecast by US$0.73/$5 to US$105.73/$100 for 2014 and 2015.
As such, the broker raised CNOOC (00883.HK) +0.120 (0.948%) Short selling $69.02M; Ratio 7.084% 's 2014/15E earnings forecast to RMB1.16/1.09 per share.
CNOOC was kept Neutral with target price lifted from $12.5 to $13.1.
SINOPEC CORP (00386.HK) +0.010 (0.145%) Short selling $55.55M; Ratio 6.073% remained the top pick in Chinese oil sector, UBS said in the report.
Source: AAStocks Financial News
CNOOC (00883.HK) rated Neutral, target lifted to $13.1 - UBS
2014-04-16
UBS lifted Brent crude oil price forecast by US$0.73/$5 to US$105.73/$100 for 2014 and 2015.
As such, the broker raised CNOOC (00883.HK) +0.120 (0.948%) Short selling $69.02M; Ratio 7.084% 's 2014/15E earnings forecast to RMB1.16/1.09 per share.
CNOOC was kept Neutral with target price lifted from $12.5 to $13.1.
SINOPEC CORP (00386.HK) +0.010 (0.145%) Short selling $55.55M; Ratio 6.073% remained the top pick in Chinese oil sector, UBS said in the report.
Source: AAStocks Financial News
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Re: CNOOC 0883
by winston » Tue Apr 22, 2014 7:56 pm
not vested
CNOOC (00883.HK) sees 2014 capex shall not exceed target
2014-04-22
CNOOC (00883.HK) +0.060 (0.466%) Short selling $42.89M; Ratio 7.598% reported capex in the first quarter was RMB19.31 billion. CFO Zhong Hua stated the group had completed the investment plan for 2014, and he expected the annual capex will not exceed the target (RMB120 billion).
Besides, he refused to comment on the potential disposal of Bridas Corporation in Argentina, yet he stressed the current financial positions of the group is healthy.
Source: AAStocks Financial News
CNOOC (00883.HK) sees 2014 capex shall not exceed target
2014-04-22
CNOOC (00883.HK) +0.060 (0.466%) Short selling $42.89M; Ratio 7.598% reported capex in the first quarter was RMB19.31 billion. CFO Zhong Hua stated the group had completed the investment plan for 2014, and he expected the annual capex will not exceed the target (RMB120 billion).
Besides, he refused to comment on the potential disposal of Bridas Corporation in Argentina, yet he stressed the current financial positions of the group is healthy.
Source: AAStocks Financial News
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Re: CNOOC 0883
by winston » Wed Apr 23, 2014 4:34 am
CNOOC output belies problems
CNOOC (0883) yesterday posted a 15.5 percent rise in first- quarter output mainly due to its purchase of Canadian firm Nexen last year.
But China's top offshore oil and gas producer could still miss its 2011-2015 annual organic production target as it struggles with aging domestic oil fields.
Total net output rose to 108.1 million barrels of oil equivalent.
Excluding the contribution from Nexen, which CNOOC bought for US$15.1 billion (HK$117 billion) last February, production was largely flat at 88.8 million BOE.
CNOOC is also under pressure to control costs. It expects up to 10 projects to come onstream this year. "All new projects are progressing as scheduled," chief financial officer Zhong Hua said.
Total capital expenditure surged almost 30 percent to 19.31 billion yuan (HK$24 billion) from a year ago, Zhong said, adding that the capital spending plan for the whole year remains unchanged.
Revenue rose 6.9 percent year on year to 59.15 billion yuan as realized oil prices dipped 5.1 percent to US$104.63 per barrel.
CNOOC does not report quarterly profit figures. The shares rose 0.47 percent ahead of the release .
Source: REUTERS
CNOOC (0883) yesterday posted a 15.5 percent rise in first- quarter output mainly due to its purchase of Canadian firm Nexen last year.
But China's top offshore oil and gas producer could still miss its 2011-2015 annual organic production target as it struggles with aging domestic oil fields.
Total net output rose to 108.1 million barrels of oil equivalent.
Excluding the contribution from Nexen, which CNOOC bought for US$15.1 billion (HK$117 billion) last February, production was largely flat at 88.8 million BOE.
CNOOC is also under pressure to control costs. It expects up to 10 projects to come onstream this year. "All new projects are progressing as scheduled," chief financial officer Zhong Hua said.
Total capital expenditure surged almost 30 percent to 19.31 billion yuan (HK$24 billion) from a year ago, Zhong said, adding that the capital spending plan for the whole year remains unchanged.
Revenue rose 6.9 percent year on year to 59.15 billion yuan as realized oil prices dipped 5.1 percent to US$104.63 per barrel.
CNOOC does not report quarterly profit figures. The shares rose 0.47 percent ahead of the release .
Source: REUTERS
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Re: CNOOC 0883
by winston » Wed Apr 23, 2014 8:13 pm
not vested
CNOOC (00883.HK) rated Neutral, target reduced to $15.25 - JP Morgan
In the latest research report, JP Morgan said CNOOC (00883.HK) -0.160 (1.236%) Short selling $121.42M; Ratio 17.344% 's first-quarter revenue was worse than its expectation because of the quarterly decline in oil equivalent output.
While the Group decided to maintain the full-year output target and capex, JP Morgan lowered the 2014-2016 EPS forecast by an average of 3%.
The target price was cut from $16.5 to $15.25, with Neutral investment rating remained.
In the sector, the research house explicitly expressed the preference for PETROCHINA (00857.HK) +0.010 (0.114%) Short selling $67.98M; Ratio 14.538% and SINOPEC CORP (00386.HK) -0.150 (2.072%)
Short selling $98.88M; Ratio 13.115% , which have a clearer strategy to adapt to the current oil price environment.
Source: AAStocks Financial News
CNOOC (00883.HK) rated Neutral, target reduced to $15.25 - JP Morgan
In the latest research report, JP Morgan said CNOOC (00883.HK) -0.160 (1.236%) Short selling $121.42M; Ratio 17.344% 's first-quarter revenue was worse than its expectation because of the quarterly decline in oil equivalent output.
While the Group decided to maintain the full-year output target and capex, JP Morgan lowered the 2014-2016 EPS forecast by an average of 3%.
The target price was cut from $16.5 to $15.25, with Neutral investment rating remained.
In the sector, the research house explicitly expressed the preference for PETROCHINA (00857.HK) +0.010 (0.114%) Short selling $67.98M; Ratio 14.538% and SINOPEC CORP (00386.HK) -0.150 (2.072%)
Short selling $98.88M; Ratio 13.115% , which have a clearer strategy to adapt to the current oil price environment.
Source: AAStocks Financial News
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Re: CNOOC 0883
by winston » Thu Jun 12, 2014 1:01 pm
not vested
CNOOC (00883.HK) target lifted to $15.86, rated Overweight - MS
2014-06-12
Morgan Stanley, in its latest research report, raised the target for CNOOC (00883.HK) +0.080 (0.593%) Short selling $24.98M; Ratio 14.188% from $13.1 to $15.86, with Overweight rating.
It expects CNOOC's 1H earning may be worse than expected, providing a good buying point.
As the Company will launch 6-9 new projects from 4Q14 to 1Q15, there is high chance for revaluation.
Source: AAStocks Financial News
CNOOC (00883.HK) target lifted to $15.86, rated Overweight - MS
2014-06-12
Morgan Stanley, in its latest research report, raised the target for CNOOC (00883.HK) +0.080 (0.593%) Short selling $24.98M; Ratio 14.188% from $13.1 to $15.86, with Overweight rating.
It expects CNOOC's 1H earning may be worse than expected, providing a good buying point.
As the Company will launch 6-9 new projects from 4Q14 to 1Q15, there is high chance for revaluation.
Source: AAStocks Financial News
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