Changes in Hong Kong stocks | Petroleum stocks had the highest gains, and oil prices are expected to remain high. CNOOC and its oil service companies performed well in the first quarter

Petroleum stocks had the highest gains. As of press release, CNOOC (00883) rose 4.76% to HK$20.7; Sinopec (00386) rose 4.28% to HK$4.87; CNPC (00857) rose 2.05% to HK$7.45; and CNOOC Services (02883) rose 1.53% to HK$8.63.

Zhitong FinanceApr 29 22:05 ET

Details of the latest Hong Kong and A-share holdings of foreign public equity giants are here

The fund's quarterly report revealed that public fund holdings under international asset management giants such as Fidelity, BlackRock, and Lubomai have surfaced. Zhou Wenqun of Fidelity Funds has the latest management scale of 680 million yuan. The first quarter heavy stocks of the Fidelity Heritage 6-Month Stock Fund under its management include CNOOC, Shaanxi Coal, China Shenhua, Midea Group, Yancoal Australia, etc., and its holdings are mainly energy stocks. Fidelity Inheritance drastically increased its allocation of Hong Kong stocks, increasing its allocation ratio from 14.4% at the end of last year to 24.31%. Fund manager Zhou Wenqun said in the quarterly report: “The fund has increased its allocation to the upstream sector, which is the main source of excess income; overallocation

Gelonghui FinanceApr 29 03:25 ET

Research Nuggets | CICC: Raising CNOOC's target price to HK$24, raising profit forecast for this year and next two years

According to a research report published by CICC, CNOOC's revenue for the first quarter increased 14% year-on-year, and net profit increased by 23.7%. Production exceeded expectations, driving quarterly performance higher than market expectations. During the period, CNOOC's oil and gas production increased by 9.9% year-on-year to 180 million barrels of oil equivalent. China's domestic oil and gas production increased 6.9%, and overseas production increased 16.9%. The expected increase in CICC's production is mainly driven by early commissioning of the domestic Suizhong 36-1/Luda 5-2 oil field during the second adjustment period, as well as an increase in output from the Canadian oil sands project. Looking ahead, CICC remains optimistic about CNOOC's production growth and is expected to exceed 2 for the whole year

Gelonghui FinanceApr 27 22:49 ET

UBS: Target price for CNOOC's “buy” rating raised to HK$26.3

According to a research report released by UBS, the net profit of CNOOC (00883) increased 23.7% year on year and 51.6% quarterly to 39.7 billion yuan, higher than the market and the forecast. This was mainly due to the rapid increase in production during the period, the 6.2% increase in oil prices to 78.75 US dollars per barrel, and the appreciation of the US dollar exchange rate. The report raised CNOOC's 2024-2026 profit forecast by 2%, and the target price for H shares was raised from HK$26 to HK$26.3, with a “buy” rating. According to the report, CNOOC's production in the first quarter increased 9.9% year on year to 180.1 million barrels, and its domestic production in China increased 6.9%

新浪港股Apr 26 05:46 ET

Bank of China International: Reiterates CNOOC's “Buy” Rating Target Price to HK$21.84

Bank of China International released a research report stating that it reaffirmed the “buy” rating of CNOOC (00883) and raised the target price from HK$19.95 to HK$21.84. Due to the recent surge in oil prices, CNOOC's profit in the second quarter is likely to be higher. If the typhoon does not have a significant impact, oil and gas production will exceed the upper limit of its target guidelines. According to the report, CNOOC's net profit for the first quarter increased 24% year-on-year to 39.7 billion yuan, 9% higher than the bank's forecast. This difference is mainly due to lower costs than expected, realized oil prices, and higher production than expected. Brent crude has been in business since mid-March

新浪港股Apr 26 05:45 ET

China Oil Company Sees Strong Production and Profits This Quarter

CNOOC Limited achieved strong growth in both net production and net profit during the first quarter of this year, the company said on Thursday.

China DailyApr 26 03:37 ET