CNOOC stock reports record H1 profit as targets rise

Published on 09/30/2026 at 16:00 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CNOOC stock drew higher fair value of HKD 21.36 on September 3, 2026, up from HKD 20.46. First-half revenue rose 16.9 percent.

CNOOC Ltd., HK0883013259, Illustration mit AI erstellt.

CNOOC Ltd. (ISIN HK0883013259) delivered record first-half 2026 results, with revenue rising 16.9 percent year over year to RMB 242.660 billion and net profit increasing 23.4 percent to RMB 85.818 billion. The figures give the stock a stronger earnings base as analysts lift their valuation assumptions.

Profit growth outpaces production

Filingreader reported on September 8, 2026, that CNOOC generated RMB 242.660 billion in first-half revenue and RMB 85.818 billion in attributable net profit. The profit increase exceeded revenue growth by 6.5 percentage points, showing stronger earnings conversion during the period.

Net oil and gas production reached 398.7 million barrels of oil equivalent, up 3.7 percent from the prior-year period, according to Moomoo on September 8, 2026. The gap between production growth and profit growth leaves crude and gas prices, sales volumes and cost discipline as key earnings variables.

Analysts raise fair value

Analysts lifted their CNOOC price target from HKD 20.46 to HKD 21.36 on September 3, 2026, according to Simply Wall St. The HKD 0.90 increase represents 4.40 percent growth in the stated target, while the same update cited a lower projected net profit margin of 27.83 percent.

A separate September 14, 2026 analyst report set a RMB 43.94 target and a Buy rating, while identifying international crude price volatility, project commissioning schedules and environmental regulation costs as risks, as Futunn reported.

Market value reaches HKD 1.1 trillion

CNOOC Ltd.'s market capitalization stood at HKD 1.1 trillion on September 30, 2026. Its 52-week range was HKD 18.42 to HKD 30.98, placing the market value between a documented yearly low and high while the first-half earnings provide the central fundamental comparison.