CNOOC Limited shares could get back into a rising trend over the medium term, as suggested by technical indicators. Investors should buy the stock at current prices near HKD 8.75 in order to target the HKD 11.8.
The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
In a short-term perspective, the company has interesting fundamentals.
The group's activity appears highly profitable thanks to its outperforming net margins.
Its low valuation, with P/E ratio at 6.68 and 6.41 for the ongoing fiscal year and 2022 respectively, makes the stock pretty attractive with regard to earnings multiples.
This company will be of major interest to investors in search of a high dividend stock.
Over the past year, analysts have regularly revised upwards their sales forecast for the company.
Analysts have consistently raised their revenue expectations for the company, which provides good prospects for the current and next years in terms of revenue growth.
For the past year, analysts covering the stock have been revising their EPS expectations upwards in a significant manner.
For the last 4 months, the company has been enjoying highly positive EPS revisions, which were frequently and significantly raised.
Analysts covering this company mostly recommend stock overweighting or purchase.
The average target price set by analysts covering the stock is above current prices and offers a tremendous appreciation potential.
Subsector Other Oil & Gas Exploration and Production
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