Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>CLSA: CNOOC (00883.HK) Demonstrates High Div. Payment Capability Despite Cyclicality, But TP Trimmed to $22.4
Recommend 20 Positive 26 Negative 16 |
||||
|
||||
|
Despite oil price fluctuations, CNOOC (00883.HK) demonstrated high dividend payment capability despite cyclicality, continuing to advance steadily on the global oil and gas stage with world-class execution, CLSA released a research report saying. Its 1H25 results show that most operational indicators were in line with full-year targets, which is commendable given the current macroeconomic uncertainties in the market. Another highlight is that CNOOC has increased its dividend payout ratio by 5 ppts YoY, maintaining flattish DPS YoY, representing a signal management is willing to use free cash flow to boost shareholder returns. CLSA kept rating at Outperform for CNOOC. However, based on unchanged forecasts for Brent crude oil prices at US$75/ US$70 per barrel for FY2025/ FY2026 and a long-term anchor price of US$70 per barrel, the broker trimmed its target price for CNOOC's H-/ A-shares from $23.1/ RMB32.4 to $22.4/ RMB31.4, derived by adding a 50% A-H premium to its H-share target price. AASTOCKS Financial News Website: www.aastocks.com |
||||
Copied to Clipboard
 |
||||
