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<Research>Citi: CNOOC (00883.HK) 2025 Earnings Miss; TP at HKD24
Recommend 2 Positive 4 Negative 5 |
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CNOOC (00883.HK) notched a net profit decline of 11% YoY to RMB122 billion in 2025, 6% below street consensus, Citi said in its report. This was primarily due to a 14% drop in Brent oil price and an investment loss of RMB943 million. The company declared a final DPS of HKD0.55, with a total annual DPS of HKD1.28, maintaining a payout ratio of 45%. However, the total annual DPS was disappointing as it was lower than the HKD1.4 in 2024. Management expected the payout ratio to remain at no less than 45% for 2026-27. The broker set a target price of HKD24 for CNOOC, with a Buy rating. AASTOCKS Financial News Website: www.aastocks.com |
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