CNOOC Ltd (ADR) (CEO) is Downgraded by Morgan Stanley to Equal-Weight

CNOOC Ltd (ADR) (CEO) was Downgraded by Morgan Stanley to ” Equal-Weight”. Earlier the firm had a rating of “Overweight ” on the company shares. Morgan Stanley advised their investors in a research report released on May 10, 2016.

CNOOC Ltd (ADR) closed down -0.97 points or -0.83% at $116.41 with 1,98,839 shares getting traded on Friday. Post opening the session at $114.89, the shares hit an intraday low of $114.54 and an intraday high of $117.3 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

CNOOC Limited is an investment holding company. The Company is principally engaged in the exploration development production and sale of crude oil natural gas and other petroleum products. The Company operates through three segments: exploration and production trading business and corporate. The Company is engaged in the upstream operating activities of the conventional oil and gas shale oil and gas oil sands and other unconventional oil and gas business. The Company’s core operation areas are Bohai Western South China Sea Eastern South China Sea and East China Sea in offshore China. Overseas the Company has oil and gas assets in Asia Africa North America South America Oceania and Europe.


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