UB#CNOOCRP2705F

JPMorgan Upgrades CNOOC EPS Forecast and Maintains Rating

CLP and CNOOC Sign Memorandum to Deepen Energy Cooperation

BOCI Raises CNOOC Target Price to HKD 34.69 and Maintains Buy Rating

HSBC Global Research Maintains Buy Rating on CNOOC

CNOOC Maintains 2026 Capital Expenditure Plan

China's First Large-Scale Fracturing Vessel 'Marine Oil 696' Successfully Berths in Tianjin

CNOOC Announces First Quarter 2026 Net Profit Up 7.10% Year-over-Year

CNOOC released FY2026 Q1 earnings on April 28 Pre-Market (BJT), actual revenue HKD 131.6 B (forecast HKD 126.92 B), actual EPS HKD 0.9296 (forecast HKD 0.9523)

Morgan Stanley Sees Promise in CNOOC's Cost Advantages and Dividend Commitments, Upgrades to Overweight

Ocean Oil 166 Successfully Delivered to Beibu Gulf by China COSCO Shipping Zhiyuan Kou

CNOOC to Release FY2026 Q1 Earnings on April 28 Pre-Market (BJT), Forecast Revenue HKD 126.88 B, EPS HKD 0.9171

CNOOC Energy Development Delivers First Offshore Mobile Multi-functional Measure Platform

CNOOC Successfully Deploys Self-Developed 1500m Deep-Sea Drilling Riser System

CNOOC Tianjin Company Exceeds 10 Million Tons of Oil and Gas Production in First Quarter of Bohai Oilfield

CNOOC Releases 2025 Annual Report

Huansan Securities: CNOOC's Oil Cost Compressed, Maintains 'Buy' Rating

Citibank Raises Forecast and Target Price for CNOOC

Morningstar Raises Fair Value Estimate for China National Offshore Oil Corporation A Shares

BOC International Adjusts CNOOC's Profit Forecast and Maintains Buy Rating

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ILUVATAR COREX(09903) rose 20.22%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 287.3%. MINIMAX-W(00100) rose 12.62%, with a trading turnover 1.4 Billion HKD, and a year-to-date rose 386.7%. AKESO(09926) fell 5.89%, with a trading turnover 924.7 Million HKD, and a year-to-date rose 13.1%. GALAXY ENT(00027) fell 2.83%, with a trading turnover 688.9 Million HKD, and a year-to-date fell 15.9%.

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ILUVATAR COREX

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CNOOC

Top 5 HK Stock Gainers/Losers (>100B) (5.4)

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High oil prices have a very direct impact on these companies' financial results, but tread with caution.

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BP PLC-Spons

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CHINA OILFIELD

Shell

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The Strait of Hormuz is choking the world's oil supply. These stocks could win.

HSBC has reaffirmed its Buy rating on CNOOC Limited (NC2B) with a price target of HK$32.30, while the shares closed at HK$28.98. The analyst consensus suggests a Strong Buy rating with an average price target of €3.57, indicating a significant downside. Additionally, DBS also maintained a Buy rating with a price target of HK$34.50.

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HSBC HOLDINGS

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CNOOC-R

HSBC Reaffirms Their Buy Rating on CNOOC Limited (NC2B)

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Guosen Securities reported a decline in the Hong Kong stock position ratio and overweight allocation to Hong Kong stocks by mainland active equity mutual funds in 1Q26. The total size of mainland active equity funds eligible for Hong Kong investments was RMB2,095.1 billion, with top 10 heavyweight holdings amounting to RMB121.7 billion, down from RMB155.0 billion in 4Q25. Notable stocks include Tencent, Alibaba, and CNOOC, with significant short selling activity observed.

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Guosen Securities Lists Top 10 HK Heavyweight Holdings of Mainland Active Equity Mutual Funds in 1Q26 (Table)

JPMorgan has issued a research report indicating that CNOOCis expected to raise its mid- to long-term production target due to a sustained increase in oil prices. CNOOC reported a net profit of RMB39.1 billion for Q1 2026, reflecting a 96% quarter-on-quarter and 7% year-on-year increase. Despite adjusting its maintenance plan and accelerating project construction, the company will not change its FY2026 earnings guidance for now. JPM has raised its EPS forecasts for CNOOC by 3% and maintains an Overweight rating with a target price of HKD33 for its H shares.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

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JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

JPM Expects CNOOC  to Raise Mid- to Long-term Production Target, Maintains Overweight

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CNOOC Limited (NC2B) has received a Buy rating from DBS analyst Pei Hwa Ho, who set a price target of HK$34.50. Ho, a 5-star analyst with a 72.09% success rate, focuses on the Energy sector. The current analyst consensus for CNOOC Limited is a Strong Buy, with an average price target of €3.53.

CNOOC F03 N3305

CNOOC F13 N4305

CNOOC F13 N2909

SINOPEC CORP

Seatrium

PetroCN HK SDR 1to2

CNOOC Limited (NC2B) Receives a Buy from DBS

BOCI has raised its target price for CNOOCfrom HKD32.28 to HKD34.69, maintaining a Buy rating. The report highlights a 7% YoY increase in CNOOC's net profit for Q1 2026, driven by higher oil prices and production. The broker anticipates stronger earnings in upcoming quarters due to rising oil prices following the Middle East conflict, adjusting its oil price forecasts for 2026-2028 upwards by 6%, 3%, and 1%.

BOCI Raises CNOOC  TP to HKD34.69, Reiterates Buy

HSBC Research reports that CNOOCmay raise its guidance if oil prices remain high, following a 7% YoY net profit increase to RMB39 billion in Q1 2026. The company maintained its production and capital expenditure guidance, but could adjust if Brent crude stays at USD80 per barrel. HSBC maintains a Buy rating with a target price of HKD32.3, highlighting CNOOC's growth prospects and an attractive forecast dividend yield of 6%.

HSBC Research: CNOOC  May Raise Guidance If Oil Prices Stay High; Forecast Dividend Yield of 6% Attractive

CLSA's research report indicates that CNOOCis likely to meet its full-year guidance, maintaining a target price of HKD32. The company reported solid first-quarter results, with an average oil price of USD120 per barrel in Q2. CLSA anticipates potential upside in CNOOC's full-year earnings, supporting dividend expectations, and has reiterated its Outperform rating based on a forecast dividend yield of 6%.

CLSA: CNOOC  Likely to Meet Full-year Guidance, Maintains TP at HKD32

Citi Research reported that CNOOC'sQ1 results met expectations, with a net profit of RMB39.2 billion, a 7% YoY increase, driven by a 4.5% rise in oil prices. Total production rose 8.6% YoY to 205 million barrels of oil equivalent. CNOOC maintained its full-year production target of 780-800 million barrels, with 25.6%-26.3% completed in Q1. Citi reiterated a Buy rating with a target price of HKD33, citing strong growth prospects and effective cost control.

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

Citi: CNOOC  1Q Results In Line; Rating Buy

UB#CNOOCRP2705F(56700.HK)

Top 5 HK Stock Gainers/Losers (>100B) (5.4)

The Strait of Hormuz is choking the world's oil supply. These stocks could win.

HSBC Reaffirms Their Buy Rating on CNOOC Limited (NC2B)

Guosen Securities Lists Top 10 HK Heavyweight Holdings of Mainland Active Equity Mutual Funds in 1Q26 (Table)

JPM Expects CNOOC to Raise Mid- to Long-term Production Target, Maintains Overweight

CNOOC Limited (NC2B) Receives a Buy from DBS

BOCI Raises CNOOC TP to HKD34.69, Reiterates Buy

HSBC Research: CNOOC May Raise Guidance If Oil Prices Stay High; Forecast Dividend Yield of 6% Attractive

CLSA: CNOOC Likely to Meet Full-year Guidance, Maintains TP at HKD32

Citi: CNOOC 1Q Results In Line; Rating Buy