CNOOC Limited (HK:0883)
:0883
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CNOOC Limited
(0883)
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Rating:79Outperform
Price Target:
HK$30.00
â–˛(11.19% Upside)
Action:UpgradedDate: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 / very low leverage
The sharp decline in debt-to-equity to ~0.09 provides durable financial flexibility: lower refinancing risk, capacity to fund capex or dividends through cycles, and stronger covenant headroom. This balance-sheet strength supports multi‑year operations and strategic optionality.
Negative Factors
Top-line and EPS deterioration in 2025
A 2025 revenue and earnings step-down signals exposure to near-term production, pricing, or portfolio headwinds. If not reversed by reserve replacement or new projects, persistent top-line weakness can pressure margins, cash flow and limit room for expanding investments over the coming 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / very low leverage
The sharp decline in debt-to-equity to ~0.09 provides durable financial flexibility: lower refinancing risk, capacity to fund capex or dividends through cycles, and stronger covenant headroom. This balance-sheet strength supports multi‑year operations and strategic optionality.
Read all positive factors
CNOOC Limited (0883) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.37T
Dividend Yield6.76%
Average Volume (3M)61.47M
Price to Earnings (P/E)7.6
Beta (1Y)0.52
Revenue Growth-3.90%
EPS Growth-11.54%
CountryHK
Employees22,181
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.47
Shares Outstanding44,539,953,000
10 Day Avg. Volume72,437,011
30 Day Avg. Volume61,467,658
Financial Highlights & Ratios
PEG Ratio-0.57
Price to Book (P/B)1.13
Price to Sales (P/S)2.36
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$32.39Price Target Upside20.04% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)3.35
Revenue Forecast (FY)HK$476.54B
CNOOC Limited Business Overview & Revenue Model
Company Description
CNOOC Limited, an investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas. It operates through three segments: E&P, Trading Business, and Corporate. The company produces offshore crude...
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 | 385.92B | 420.51B | 416.61B | 432.23B | 246.11B |
| Gross Profit | 203.86B | 225.40B | 307.86B | 277.78B | 201.49B |
| EBITDA | 252.14B | 261.70B | 235.74B | 260.92B | 156.55B |
| Net Income | 118.92B | 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
Positive
26.98
Price Trends
26.71
Positive
24.13
Positive
21.51
Positive
Market Momentum
-0.19
Positive
48.10
Neutral
40.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0883, the sentiment is Positive. The current price of 26.98 is below the 20-day moving average (MA) of 27.91, above the 50-day MA of 26.71, and above the 200-day MA of 21.51, indicating a neutral trend. The MACD of -0.19 indicates Positive momentum. The RSI at 48.10 is Neutral, neither overbought nor oversold. The STOCH value of 40.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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$1.37T | 7.65 | 15.25% | 6.76% | -3.90% | -11.54% | |
75 Outperform | HK$2.45T | 8.75 | 10.04% | 6.32% | -4.65% | -4.58% | |
74 Outperform | HK$1.15T | 17.31 | 13.43% | 8.97% | -6.04% | -7.87% | |
67 Neutral | HK$239.02B | 4.20 | 11.37% | 4.59% | -21.82% | -20.14% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | HK$203.77B | 9.73 | 11.62% | 8.02% | 7.29% | -48.69% | |
50 Neutral | HK$709.36B | 16.07 | 4.09% | 5.52% | -9.59% | -34.12% |
* Energy Sector Average
HK:0883
CNOOC Limited
28.44
12.63
79.86%
HK:1898
China Coal Energy Co
13.61
5.92
76.94%
HK:1088
China Shenhua Energy Co
47.26
20.58
77.10%
HK:0857
PetroChina Company
11.46
6.02
110.66%
HK:0386
China Petroleum & Chemical
4.62
0.91
24.43%
HK:1171
Yankuang Energy Group Company Limited Class H
14.98
7.64
104.03%
CNOOC Limited Corporate Events
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, ...
CNOOC Limited Reshapes Board and Committee Roles to Sharpen Governance Focus
Mar 20, 2026
CNOOC Limited has updated the composition of its board of directors and the allocation of roles across key board committees, effective 20 March 2026. The board now comprises non-executive chairman Zhang Chuanjiang, executive vice chairman, CEO and...
CNOOC Sets March 2026 Board Meeting to Approve 2025 Results and Consider Final Dividend
Mar 12, 2026
CNOOC Limited has scheduled a board meeting for 26 March 2026 in Hong Kong to review and approve the annual financial results for the year ended 31 December 2025. The board will also consider a recommendation on the payment of a final dividend, a ...
CNOOC Group Lifts Stake in CNOOC Limited to Over 62%
Mar 4, 2026
China National Offshore Oil Corporation, the actual controller of CNOOC Limited, has further increased its stake in the listed subsidiary through purchases of both A shares in Shanghai and H shares via the Shanghai–Hong Kong Stock Connect. T...
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.