Seeking Alpha

WSJ: Cnooc part of Vietnam spat, but investment case isn't so controversial

Cnooc's (CEO) stock performance has been trailing Chinese rivals Sinopec (SNP) and PetroChina (PTR), and the company has lagged behind its own production targets, and raised spending even as rivals have cut back; now the naval conflict with Vietnam raises the question of whether Cnooc will be dragged into politicized ventures.

Such concerns are overdone, writes Heard On The Street's Abheek Bhattacharya: Cnooc remains one of the fastest growing large energy companies in the world, with output seen growing at 15% next year; buying Canada's Nexen two years ago diversified its reserves and lifted the life span of its reserves; and the stock comes cheap relative to peers.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs