CNOOC Limited (600938) Stock Price, Fundamentals & Analysis

What 600938 does

CNOOC Limited (600938) is an investment holding company that explores, develops, produces, and sells crude oil and natural gas worldwide. The company produces offshore crude oil and natural gas primarily in the Bohai Sea, the Western South China Sea, the Eastern South China Sea, and the East China Sea in China. It also holds interests in oil and gas assets across Asia, Africa, North America, South America, Oceania, and Europe, and is involved in petroleum and natural gas sales and trading, oil sands, and unconventional natural gas and shale oil and gas activities. CNOOC Limited operates as a subsidiary of CNOOC (BVI) LTD and is listed on the Shanghai Stock Exchange stocks, where it sits alongside peers such as PetroChina (601857) and China Oilfield Services (601808).

Key numbers explained

• 32.8 CNY is the current share price; the stock rose 1.58% today.
• The trailing P/E ratio of 11.2 shows how much investors pay per unit of recent earnings; a lower number can suggest the stock is priced modestly relative to current earnings.
• The forward P/E ratio of 10.9 uses expected future earnings, which can indicate how the market views the company's growth outlook.
• 2.92 CNY is the earnings per share over the trailing 12 months, representing the portion of profit attributable to each share.
• The dividend yield of 3.49% reflects the annual dividend as a percentage of the share price; the ex-dividend date is Jul 10, 2026.
• 44% of earnings are paid out as dividends, showing the share of profit returned to shareholders.
• Beta of 0.32 suggests the stock tends to move less than the broader market, often interpreted as lower volatility.
• 1.56T CNY is the market capitalisation, the total market value of all outstanding shares.

What to watch

• CNOOC Limited operates in the Energy sector and Oil & Gas E&P industry, where commodity prices, exploration success, and production volumes can affect results.
• The company's revenue grew 25.6% year over year to 433.27B CNY, with a profit margin of 31.9% and an operating margin of 48.1%, which are useful benchmarks for operational efficiency.
• The debt-to-equity ratio of 7.9% indicates a conservative capital structure, while return on equity of 16.8% shows how effectively the company uses shareholders' capital.
• The 52-week price range of 25.5 – 44.54 CNY and a 24.2% price change over the past year illustrate recent volatility and trend.
• Investors tracking Chinese energy exposure may compare CNOOC Limited with Yanzhou Coal Mining (600188), Shaanxi Coal Industry Company (601225), and China Coal Energy (601898), or with shipping peers like China Merchants Energy Shipping (601872).