Shares of CNOOC Limited (CEO) Sees Large Outflow of Money

CNOOC Limited (CEO) : The total money flow in CNOOC Limited (CEO) was negative ($0.65 million), which signals selling by the traders on Wednesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $1.61 million. In comparison, the inflow of money into the stock on upticks was $0.96 million. The uptick to downtick ratio was 0.6. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $0.1 million. The negative money flow of ($0.1 million) confirms the selling in CNOOC Limited (CEO) on strength. CNOOC Limited (CEO) gained $1.4 at $126.9, a gain of 1.12% over the previous days close. However, the stock registered 0.43% in the week.


Also, In a research note released to the investors, BOCOM International upgrades its rating on CNOOC Limited (NYSE:CEO).The analysts at the brokerage house have a current rating of Buy on the shares. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on June 21, 2016.

CNOOC Limited (NYSE:CEO): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $127.45 and $126.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $128.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $128.35, notching a gain of 2.27% for the day. The total traded volume was 157,304 . The stock had closed at $125.50 on the previous day.

The stock has recorded a 20-day Moving Average of 3.66% and the 50-Day Moving Average is 7.01%.

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 Companys 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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