CNOOC Limited (HK:0883)
:0883
Want to see HK:0883 full AI Analyst Report?
Top Page
CNOOC Limited
(0883)
Select Model
Select Model
Rating:79Outperform
Price Target:
HK$26.00
â–Ľ(-3.63% Downside)
Action:Upgraded
Date:04/11/26
The score is driven primarily by strong financial performance (high profitability, very low leverage, and robust cash generation) and an attractive valuation (low P/E and high dividend yield). These positives are partly offset by a weaker near-term technical picture, with the stock below its 20-day average and subdued momentum indicators.
Positive Factors
Conservative Balance Sheet / Low Leverage
Very low and improving leverage (debt-to-equity ~0.09) provides durable financial flexibility for an upstream E&P. This reduces refinancing risk, supports capital allocation (capex, dividends, M&A) through commodity cycles, and preserves balance sheet resilience in downturns.
Negative Factors
Revenue and Earnings Step-Down
A top-line and profit decline in 2025 highlights the company's exposure to commodity cyclicality. Sustained revenue weakness reduces visibility for long-term production growth, can constrain reinvestment choices and limit the stability of cashflows and dividends if low-price periods persist.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet / Low Leverage
Very low and improving leverage (debt-to-equity ~0.09) provides durable financial flexibility for an upstream E&P. This reduces refinancing risk, supports capital allocation (capex, dividends, M&A) through commodity cycles, and preserves balance sheet resilience in downturns.
Read all positive factors
CNOOC Limited (0883) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.09T
Dividend Yield6.76%
Average Volume (3M)61.47M
Price to Earnings (P/E)7.5
Beta (1Y)0.59
Revenue Growth-3.90%
EPS Growth-11.54%
CountryHK
Employees22,181
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)2.55
Shares Outstanding44,539,953,000
10 Day Avg. Volume72,437,011
30 Day Avg. Volume61,467,658
Financial Highlights & Ratios
PEG Ratio-0.65
Price to Book (P/B)1.13
Price to Sales (P/S)2.28
P/FCF Ratio9.38
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$33.89Price Target Upside25.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)3.48
Revenue Forecast (FY)HK$489.13B
CNOOC Limited Business Overview & Revenue Model
Company Description
CNOOC Limited functions as an investment holding company, with its core business encompassing the full lifecycle of crude oil and natural gas, from exploration and development to production and sales. Its activities are organized across three prim...
How the Company Makes Money
CNOOC Limited primarily makes money by producing and selling hydrocarbons. Its main revenue stream is the sale of crude oil and natural gas produced from its upstream portfolio (offshore and onshore, both in China and internationally). Revenue is ...
CNOOC Limited Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
82
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 398.22B | 420.51B | 416.61B | 432.23B | 246.11B |
| Gross Profit | 268.76B | 225.40B | 307.86B | 277.78B | 201.49B |
| EBITDA | 254.15B | 261.70B | 235.74B | 260.92B | 156.55B |
| Net Income | 122.08B | 137.94B | 123.84B | 141.70B | 70.32B |
Balance Sheet | |||||
| Total Assets | 1.10T | 1.06T | 1.01T | 929.03B | 786.57B |
| Cash, Cash Equivalents and Short-Term Investments | 240.80B | 199.97B | 194.87B | 209.60B | 162.17B |
| Total Debt | 69.83B | 91.89B | 120.18B | 134.40B | 135.14B |
| Total Liabilities | 293.50B | 306.85B | 337.72B | 330.65B | 304.59B |
| Stockholders Equity | 803.09B | 747.55B | 666.59B | 597.18B | 480.91B |
Cash Flow | |||||
| Free Cash Flow | 96.91B | 97.53B | 92.38B | 110.82B | 65.46B |
| Operating Cash Flow | 205.58B | 220.89B | 213.34B | 205.57B | 147.89B |
| Investing Cash Flow | -127.02B | -175.43B | -78.09B | -98.47B | -96.23B |
| Financing Cash Flow | -80.70B | -97.94B | -84.23B | -64.96B | -33.33B |
CNOOC Limited Technical Analysis
Negative
26.98
Price Trends
26.18
Negative
25.89
Negative
22.87
Negative
Market Momentum
-0.88
Positive
25.11
Positive
7.00
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0883, the sentiment is Negative. The current price of 26.98 is above the 20-day moving average (MA) of 25.47, above the 50-day MA of 26.18, and above the 200-day MA of 22.87, indicating a bearish trend. The MACD of -0.88 indicates Positive momentum. The RSI at 25.11 is Positive, neither overbought nor oversold. The STOCH value of 7.00 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0883.
CNOOC Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | HK$1.09T | 7.52 | 15.25% | 6.76% | -3.90% | -11.54% | |
71 Outperform | HK$2.01T | 11.26 | 10.04% | 6.32% | -1.41% | -2.26% | |
67 Neutral | HK$53.09B | 14.90 | 8.25% | 3.59% | 4.22% | 22.46% | |
66 Neutral | HK$9.35B | 8.28 | 8.60% | 20.93% | 9.52% | -28.22% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | HK$57.67B | 9.28 | 7.88% | 4.58% | 3.72% | -10.43% | |
55 Neutral | HK$635.08B | 15.64 | 4.45% | 5.52% | -7.22% | -15.49% |
* Energy Sector Average
HK:0883
CNOOC Limited
22.20
5.13
30.06%
HK:0135
KUNLUN ENERGY
6.66
-0.68
-9.29%
HK:2883
China Oilfield Services
6.77
0.39
6.11%
HK:0857
PetroChina Company
9.16
2.85
45.17%
HK:0386
China Petroleum & Chemical
4.16
0.32
8.36%
HK:0467
United Energy Group
0.36
-0.30
-45.45%
CNOOC Limited Corporate Events
CNOOC Shareholders Approve 2025 Results and Back Board at AGM
Jun 3, 2026
CNOOC Limited held its 2025 annual general meeting in Hong Kong on 3 June 2026, with both onsite and online participation and a turnout representing about 64.9% of the company’s voting share capital. The meeting was chaired by board chairman...
CNOOC Sets 2025 AGM to Confirm Financials and Cement Leadership Team
May 7, 2026
CNOOC Limited has called its 2025 Annual General Meeting for 3 June 2026 in Hong Kong, where shareholders will review the audited financial statements, the auditors’ report and the directors’ report for the year ended 31 December 2025....
CNOOC Sets 2025 Final Dividend Plan and Clarifies Tax on Hong Kong Shares
Apr 28, 2026
CNOOC Limited has proposed a final dividend of HK$0.55 per share for the 2025 financial year, payable in Hong Kong dollars for Hong Kong-listed shares and in renminbi for Shanghai-listed shares, subject to shareholder approval at the 3 June 2026 a...
CNOOC Sets 2025 Final Dividend Timetable and Clarifies Tax Treatment
Apr 28, 2026
CNOOC Limited has updated details of its proposed final dividend for the year ended 31 December 2025, confirming a payout of HKD 0.55 per share in Hong Kong dollars, subject to shareholder approval on 3 June 2026. The timetable sets the ex-dividen...
CNOOC Limited Delivers Higher Revenue and Profit in Q1 2026
Apr 28, 2026
CNOOC Limited reported unaudited first-quarter 2026 results showing revenue of RMB 116.08 billion, up 8.6% year on year, and net profit attributable to equity shareholders of RMB 39.14 billion, a 7.1% increase, with basic and diluted earnings per ...
CNOOC Sets April Board Meeting to Approve First-Quarter 2026 Results
Apr 15, 2026
CNOOC Limited, a major Hong Kong-listed offshore oil and gas producer, operates through multiple subsidiaries and maintains dual-currency listings in HKD and RMB on the local exchange. Its board comprises executive, non-executive and independent n...
CNOOC Parent Extends Shareholding Increase Plan as Stake Rises Above 62%
Mar 26, 2026
CNOOC Limited said its controlling shareholder, China National Offshore Oil Corporation, has modestly increased its stake in the company and will extend its existing share purchase plan by one year. The move underscores the parent’s confiden...
CNOOC Lifts Output and Profit as It Accelerates Offshore Low‑Carbon Shift
Mar 26, 2026
CNOOC Limited, a major offshore oil and gas producer listed in Hong Kong, continued to build its core petroleum business while accelerating expansion into low‑carbon and new energy ventures. The company is leveraging offshore resources, digi...
CNOOC Proposes HKD 0.55 Final Dividend for 2025
Mar 26, 2026
CNOOC Limited has announced a proposed final ordinary dividend of HKD 0.55 per share for the financial year ended 31 December 2025, payable in Hong Kong dollars for its Hong Kong-listed shares. Details including the ex-dividend date, record date, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.