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<Research> JPM Expects CNOOC (00883.HK) to Raise Mid- to Long-term Production Target, Maintains Overweight
JPM said in a research report that CNOOC (00883.HK) posted net profit of RMB39.1 billion for 1Q26, up 96% QoQ and 7% YoY, in line with the brokers expectations. At the management ...
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<Research> JPM Expects CNOOC (00883.HK) to Raise Mid- to Long-term Production Target, Maintains Overweight
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JPM said in a research report that CNOOC (00883.HK)  0.000 (0.000%)    Short selling $628.07M; Ratio 21.819%   posted net profit of RMB39.1 billion for 1Q26, up 96% QoQ and 7% YoY, in line with the brokers expectations.

At the management briefing, management stated that it had strategically adjusted its maintenance plan for the first quarter and accelerated project construction to bring forward production commencement dates. However, taking into account the impact of future maintenance and weather factors, it will not adjust its FY2026 earnings guidance for the time being.

Related NewsUBS: PETROCHINA (00857.HK) 1Q26 Net Profit In Line; Earnings Growth Seen Resilient
The broker believes that amid a prolonged uptrend in oil prices, the company may raise its mid- to long-term production target. After the results announcement, JPM lifted its EPS forecasts for the group for this year and next year by 3% and maintained an Overweight rating, with a TP of HKD33 for its H shares. (hc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-30 16:25.)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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