Cnooc's Long-Term Earnings Outlook Appear Intact Despite Energy Shock -- Market Talk

Dow Jones03-30

0600 GMT - Cnooc's long-term earnings outlook remains broadly intact despite the current energy shock, says Morningstar's Chokwai Lee in a note. CNOOC's cost control is a key highlight, Lee says, noting that an increase in net production and lower all-in costs, helped Cnooc offset a 13% drop in the average realized oil selling prices in 2025. Cnooc's strong balance sheet and cash flow could support acquisitions, but attractive targets are likely limited at current elevated oil prices, Lee says. Morningstar raises fair value estimates for Cnooc's H shares to HK$29 from HK$25.50 and A shares to CNY25.50 from CNY23.50, on stronger oil prices and lower capital spending. The H shares are fairly valued and supported by around 6% dividend yield, it adds. The H shares are last at HK$28.62. (jason.chau@wsj.com)

(END) Dow Jones Newswires

March 30, 2026 02:00 ET (06:00 GMT)

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Cnooc's strong balance sheet and cash flow could support acquisitions, but attractive targets are likely limited at current elevated oil prices, Lee says. Morningstar raises fair value estimates for Cnooc's H shares to HK$29 from HK$25.50 and A shares to CNY25.50 from CNY23.50, on stronger oil prices and lower capital spending. The H shares are fairly valued and supported by around 6% dividend yield, it adds. The H shares are last at HK$28.62. (jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 30, 2026 02:00 ET (06:00 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cnooc's Long-Term Earnings Outlook Appear Intact Despite Energy Shock -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCnooc's Long-Term Earnings Outlook Appear Intact Despite Energy Shock -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-03-30 14:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0600 GMT - Cnooc's long-term earnings outlook remains broadly intact despite the current energy shock, says Morningstar's Chokwai Lee in a note. CNOOC's cost control is a key highlight, Lee says, noting that an increase in net production and lower all-in costs, helped Cnooc offset a 13% drop in the average realized oil selling prices in 2025. Cnooc's strong balance sheet and cash flow could support acquisitions, but attractive targets are likely limited at current elevated oil prices, Lee says. Morningstar raises fair value estimates for Cnooc's H shares to HK$29 from HK$25.50 and A shares to CNY25.50 from CNY23.50, on stronger oil prices and lower capital spending. The H shares are fairly valued and supported by around 6% dividend yield, it adds. The H shares are last at HK$28.62. (jason.chau@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 30, 2026 02:00 ET (06:00 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1610","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2623113396","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2623113396","pubTimestamp":1774850400,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0600 GMT - Cnooc's long-term earnings outlook remains broadly intact despite the current energy shock, says Morningstar's Chokwai Lee in a note. 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CNOOC's cost control is a key highlight, Lee says, noting that an increase in net production and lower all-in costs, helped Cnooc offset a 13% drop in the average realized oil selling prices in 2025. Cnooc's strong balance sheet and cash flow could support acquisitions, but attractive targets are likely limited at current elevated oil prices, Lee says. Morningstar raises fair value estimates for Cnooc's H shares to HK$29 from HK$25.50 and A shares to CNY25.50 from CNY23.50, on stronger oil prices and lower capital spending. The H shares are fairly valued and supported by around 6% dividend yield, it adds. The H shares are last at HK$28.62. 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