CNOOC stock reports record interim profit as shares fall 1.84 percent

Published on 10/04/2026 at 12:41 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CNOOC stock reports RMB 85.818 billion in first-half profit, up 23.4 percent year over year. Production reached 398.7 million BOE as shares fell 1.84 percent.

CNOOC Ltd., HK0883013259, Illustration mit AI erstellt.

CNOOC Ltd. (ISIN HK0883013259) reported attributable net profit of RMB 85.818 billion for the first half of 2026, up 23.4 percent year over year, while its stock was last at HKD 23.52 in Hong Kong on October 2, 2026 at 4:08 p.m. HKT, down 1.84 percent. The earnings expansion gives the company a stronger operating backdrop even as the share price remains 24.08 percent below its 52-week high of HKD 30.98.

Profit growth outpaces production

According to FilingReader on September 8, 2026, first-half revenue rose 16.9 percent to RMB 242.660 billion. Net profit attributable to equity shareholders increased faster than revenue, climbing 23.4 percent to RMB 85.818 billion.

Operating cash flow also rose 29.7 percent to RMB 141.631 billion in the six months ended June 30, 2026, while capital expenditure totaled RMB 61.993 billion. The combination points to cash generation that exceeded the reported increase in investment spending during the period.

Production reaches a new high

CNOOC produced 398.7 million barrels of oil equivalent in the first half of 2026, a 3.7 percent year-over-year increase, according to FilingReader. Domestic production reached 275.2 million BOE and overseas production 123.6 million BOE, giving investors two distinct sources of volume growth.

The board declared an interim dividend of HKD 0.94 per share for the first half. That payout adds an income component to the earnings story, while the company's all-in cost was USD 29.70 per BOE and its gearing ratio stood at 7.3 percent on June 30, 2026.

Consensus target sits above HKD 31

The analyst consensus on the Hong Kong listing is Buy from 16 analysts, with an average 12-month target of HKD 31.67, according to Investing.com. The highest target is HKD 42.5292603 and the lowest is HKD 17.5292603, leaving a wide spread around the consensus.

A separate October 1, 2026 update from Simply Wall St said its fair value estimate was trimmed from HKD 32.99 to HKD 31.62. The lower valuation reference contrasts with the record interim profit and places greater weight on future growth assumptions and margins.

CNOOC stock trades below yearly high

CNOOC stock was last at HKD 23.52 on the Hong Kong Stock Exchange on October 2, 2026 at 4:08 p.m. HKT, down 1.84 percent from the prior close of HKD 23.96. Its 52-week range is HKD 18.42 to HKD 30.98, and market capitalization was HKD 1.1 trillion.