Skip to Content
Morningstar

CNOOC Ltd 00883

Morningstar Rating
Unlock
Stock XHKG Rating as of
HKD 23.05 −0.20 (0.86%)
View Full Chart
As of Delayed Price Open
Unlock our analysis with Morningstar Investor
Start Free Trial

Company Report

View Archive

CNOOC's Record Earnings Driven by Strong Output and Stringent Cost Control

Chokwai Lee

CNOOC is the upstream arm of China's third state-owned oil company, China National Offshore Oil. As a result, it's the most direct option for investors seeking exposure to China's energy security policy and long-term plans to increase its oil supply. As it does not have downstream activities, the company has also avoided a large legacy labor force. None of the company's sales are subject to government price controls.

Read Full Report

Price vs Fair Value

View History
00883 is trading at a 779% premium.
Price
HKD 23.40
Fair Value
HKD 51.80
Uncertainty
High
1-Star Price
HKD 62.73
5-Star Price
HKD 39.86
Economic Moat
Ydnql
Capital Allocation
Mdtxrkbb

Bulls Say, Bears Say

Bulls

With purely upstream activities, CNOOC's fair value estimate and earnings would benefit significantly from a rise in oil prices and/or output.

Bears

The state-owned nature of CNOOC places national interests above investors' interests.

Show More
Is it the right time to buy, sell, or hold?
Start a free trial of Morningstar Investor to unlock exclusive ratings and continuous analyst coverage to help you decide if 00883 is a good fit for your portfolio.
Get 7 Days Free

News

View All

Trading Information

Previous Close Price
HKD 23.25
Day Range
HKD 22.90–23.30
52-Week Range
HKD 11.44–23.90
Bid/Ask
HKD 23.00 / HKD 23.05
Market Cap
HKD 1.10 Tril
Volume/Avg
23.7 Mil / 98.0 Mil

Key Statistics

Price/Earnings (Normalized)
7.80
Price/Sales
2.34
Dividend Yield (Trailing)
5.34%
Dividend Yield (Forward)
5.64%
Total Yield
5.34%

Company Profile

CNOOC is China’s main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Net production for 2023 reached 678.0 million barrels of oil equivalent (78.1% oil), and year-end proven reserves were 6.78 billion barrels of oil equivalent. Assets outside China make up around 31.2% of production.
Sector
Energy
Industry
Oil & Gas E&P
Stock Style Box
Large Value
Total Number of Employees
19,511
Website
https://www.cnoocltd.com

Competitors

Valuation

View More
Metric
00883
XOM
00386
Price/Earnings (Normalized)
 7.8012.967.51
Price/Book Value
 1.432.180.76
Price/Sales
 2.341.380.17
Price/Cash Flow
 —8.202.98
Price/Earnings
00883
XOM
00386

Financial Strength

Metric
00883
XOM
00386
Quick Ratio
 2.091.020.40
Current Ratio
 2.191.380.90
Interest Coverage
 36.3654.076.11
Quick Ratio
00883
XOM
00386

Profitability

Metric
00883
XOM
00386
Return on Assets (Normalized)
 13.32%9.46%2.57%
Return on Equity (Normalized)
 20.48%17.46%6.56%
Return on Invested Capital (Normalized)
 17.20%14.30%4.38%
Return on Assets
00883
XOM
00386
See how this stock stacks up to its competitors with Morningstar Investor
Start Free Trial

Oil & Gas E&P Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
ConocoPhillips
COP
PysqbwnzMtxvxjb$131.0 Bil
 EOG Resources Inc
EOG
WysjgrgclVxkcyy$71.8 Bil
 Occidental Petroleum Corp
OXY
NglckrggPckl$54.8 Bil
 Hess Corp
HES
PzznydzpycQkgcm$45.3 Bil
 Diamondback Energy Inc
FANG
GjqkwygfkMcfrfvz$36.3 Bil
 Devon Energy Corp
DVN
CxfwrjvdMkdprt$29.7 Bil
 EQT Corp
EQT
NpzlbphnqHkp$16.0 Bil
 Marathon Oil Corp
MRO
CmswxzlkBnpd$15.8 Bil
 APA Corp
APA
KddscgjfNrlw$10.6 Bil
 Antero Resources Corp
AR
KhlzkqpmSjpx$10.1 Bil

Sponsor Center