DBS Bank: CNOOC is more affected by fluctuations in oil prices, lowering the Target Price to HKD 21.5.

DBS has released a research report stating that CNOOC (00883)'s stock price is closely related to oil prices and will be significantly affected by oil price fluctuations. Considering that OPEC+ may cancel the daily production cut of 2 million barrels, which could negatively impact market sentiment and weaken this year's oil price outlook, it is anticipated that this will limit the further upward space for CNOOC's stock price. Based on the potential increase in tax, DBS has lowered the forecast for CNOOC's net income for the next two years by about 2%, reaffirming the 'Buy' rating, with the target price slightly reduced from HKD 22 to HKD 21.5, believing that the current stock price level has already reflected the market's expectations for a decline in oil prices.

Sina Hong Kong stocks28minutes ago

DBS: CNOOC (00883) is more affected by oil price fluctuations, lowering the Target Price to HKD 21.5.

The bank considers that OPEC+ may cancel the production cut measures of 2 million barrels per day, which will hurt market sentiment and weaken this year's oil price outlook, expecting to limit the further upside potential of CNOOC's stock price.

Zhitong Finance41minutes ago

Hong Kong stock movement | CNOOC (00883) rose over 3% in the morning, with annual shareholder attributable profit increasing by 11.38% year-on-year and Oil & Gas production expected to continue to rise.

China National Offshore Oil Corporation (00883) rose by over 3% in the morning. As of the time of writing, it is up 3.35%, priced at 19.14 Hong Kong dollars, with a transaction volume of 1.521 billion Hong Kong dollars.

Zhitong Finance44minutes ago

CNOOC Limited (CEOHF) Q4 2024 Earnings Call Transcript Summary

moomoo AI50minutes ago · Conference Call

Oil Prices Steady at 1-mth High After Rising Sharply on Trump Iran Threat

Investing21:48 ET

Petroleum shares collectively surged, PETROCHINA (00857) rose by 2.54%, and international oil prices reached a five-week high.

Jinwu Finance | Petroleum stocks have collectively surged. As of the time of writing, PETROCHINA (00857) is up 2.54%, CNOOC (00883) is up 2.05%, CHINA OILFIELD (02883) is up 1.72%, SHANGHAI PECHEM (00338) is up 0.83%, and SINOPEC CORP (00386) is up 0.98%. In terms of news, USA President Trump has threatened to impose tariffs on buyers of Russian oil. The proposal to impose a tariff of 25% to 50% on any country purchasing Russian oil could become an executive order, which would significantly impact the oil market.

Jinwu Financial News21:44 ET