Cnooc (CEO) Gets a 5 Star Strong Buy Rating From S&P
Posted: Wednesday, September 01, 2010 9:11 AM EDT
By: Market Intelligence Center Staff
Cnooc (NYSE: CEO) closed yesterday at $169.82. So far the stock has hit a 52-week low of $127.69 and 52-week high of $182.13. Cnooc stock has been showing support around 166.98 and resistance in the 173.22 range. Technical indicators for the stock are Bullish and S&P gives CEO a very positive 5 STAR (out of 5) strong buy rating. CEO appears on the Investors Observer Momentum Plays list. For a hedged play on this stock, look at a Dec '10 170 covered call for a net debit in the $159.12 area. That is also the break even stock price for this trade. This covered call has a 108 day duration, provides 6.30% downside protection and a 6.84% assigned return rate for a 23.11% annualized return rate (comparison purposes only). Cnooc has a current annual dividend yield of 2.68%. [WBA-Seven Summits Research]
CLICK HERE: FREE Cnooc (CEO) Stock ReportSee what our analysts have uncovered about Cnooc (CEO).
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