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