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<Research>Citi Holds Positive Outlook on CNOOC Raising 2025-2027 Div. Payout Ratio to 45%
Recommend 7 Positive 11 Negative 6 |
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CNOOC (00883.HK)'s strategic guidance has a cautious tone generally, Citi opined in its research report. Due to the sale of upstream oil and gas assets in the Gulf of Mexico, the group revised down its 2025-2026 production guidance by 3%/ 4% to around 770 million/ 790 million BOE. Citi held a positive outlook on CNOOC raising its 2025-2027 dividend payout ratio from 40% to 45%. Given the group's stable production growth and its position as a major beneficiary of RMB depreciation, the broker kept a Buy rating unchanged with a target price of $24 for its H-shares. AAStocks Financial News |
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