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<Research>HSBC Research: CNOOC May Raise Guidance If Oil Prices Stay High; Estimated 6% Div. Yield Attractive
Recommend 8 Positive 10 Negative 2 |
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CNOOC (00883.HK)'s 1Q26 results benefited from rising oil prices and strong production growth, while costs were kept under control, HSBC Global Research said in its report. Although CNOOC's management maintained its 2026 production and capital expenditure guidance unchanged, the broker believes the relevant guidance could be lifted if Brent crude oil remains at USD80 per barrel, supporting further upside in earnings and shareholder returns. HSBC Global Research has kept a Buy rating and a target price of HKD32.3 for CNOOC, given its growth prospects, high-quality asset base, and an attractive forecast dividend yield of 6%. Auto-translated by AI AASTOCKS Financial News |
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