CNOOC Ltd (NYSE:CEO) announced a semiannual dividend on Friday, March 22nd, Wall Street Journal reports. Stockholders of record on Wednesday, June 5th will be paid a dividend of 5.0955 per share by the oil and gas company on Wednesday, July 17th. This represents a dividend yield of 5.81%. The ex-dividend date of this dividend is Tuesday, June 4th. This is a boost from CNOOC’s previous semiannual dividend of $3.82.
CNOOC has decreased its dividend by an average of 6.6% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. CNOOC has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect CNOOC to earn $17.61 per share next year, which means the company should continue to be able to cover its $6.85 annual dividend with an expected future payout ratio of 38.9%.
Shares of CEO stock traded down $4.61 on Friday, reaching $175.51. The stock had a trading volume of 133,994 shares, compared to its average volume of 79,515. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.52 and a current ratio of 2.63. The stock has a market cap of $80.42 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 0.45 and a beta of 1.08. CNOOC has a 12 month low of $138.99 and a 12 month high of $202.38.
Several research analysts have weighed in on CEO shares. JPMorgan Chase & Co. raised shares of CNOOC to a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research cut shares of CNOOC from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Finally, Goldman Sachs Group cut shares of CNOOC from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, February 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $214.00.
CNOOC Company Profile
CNOOC Limited, an investment holding company, explores for, develops, produces, and sells crude oil, natural gas, and other petroleum products. It operates through Exploration and Production, and Trading Business segments. The company produces offshore crude oil and natural gas primarily in Bohai, Western South China Sea, Eastern South China Sea, and East China Sea in offshore China.
Further Reading: Net Income
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