CNOOC (SEHK:883) Valuation Check After New Weizhou 11-4 Offshore Project Starts Production

Simply Wall St.12-08 07:23

CNOOC (SEHK:883) just brought its Weizhou 11-4 adjustment and satellite fields online in the Beibu Gulf, a fresh production boost built around new wells and coordinated offshore processing capacity. ...

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See our latest analysis for CNOOC. That fresh output story seems to be feeding into sentiment, with the share price up 4.25% over the past month and a 1 year total shareholder return of roughly 34 percent underscoring still solid momentum. If CNOOC’s latest production ramp up has you thinking about where else growth and capital discipline might be rewarded, it is worth exploring fast growing stocks with high insider ownership. But with CNOOC’s shares already delivering strong multiyear returns and the stock changing hands only slightly below analyst targets, is the market underestimating its cash generation potential or already pricing in the next leg of growth? AdvertisementMost Popular Narrative: 2% Undervalued With the narrative fair value edging above CNOOC’s last close at HK$22.08, the story leans toward modest upside rather than a stretched valuation.  The rise in analyst price target for CNOOC reflects improved consensus on revenue growth forecasts and a higher expected future P/E, leading to a fair value increase from HK$21.53 to HK$22.46.  Read the complete narrative. Curious why steady growth assumptions and a richer future earnings multiple still point to more upside here? The narrative leans on upgraded forecasts, tighter discounting, and a confidence shift you probably have not seen in the headline numbers yet. Result: Fair Value of $22.46 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, CNOOC’s heavy reliance on traditional hydrocarbons, and its exposure to China-focused regulatory and environmental risks, could quickly challenge this upbeat valuation story. Find out about the key risks to this CNOOC narrative.  Build Your Own CNOOC Narrative If you see the story differently or want to dig into the numbers yourself, you can spin up a custom view in minutes: Do it your way. A great starting point for your CNOOC research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision. Looking for more investment ideas? Before the next move in CNOOC’s story, give yourself an edge by lining up fresh opportunities from other corners of the market using the Simply Wall St Screener.  Capture potential mispricings by scanning these 908 undervalued stocks based on cash flows, where robust cash flows and market skepticism may be creating tomorrow’s winners. Capitalize on cutting edge innovation by targeting these 26 AI penny stocks, which could reshape entire industries through real world artificial intelligence adoption. Strengthen your income stream with these 15 dividend stocks with yields > 3% and uncover companies pairing attractive yields with sustainable payout profiles.   This article by Simply Wall St is general in nature. We provide commentary based on historical data\n    and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your\n    financial situation. We aim to bring you long-term focused analysis driven by fundamental data.\n    Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.\n    Simply Wall St has no position in any stocks mentioned.New: AI Stock Screener & AlertsOur new AI Stock Screener scans the market every day to uncover opportunities.• Dividend Powerhouses (3%+ Yield)• Undervalued Small Caps with Insider Buying• High growth Tech and AI CompaniesOr build your own from over 50 metrics.Explore Now for FreeHave feedback on this article? Concerned about the content? Get in touch with us directly. 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