CNOOC's stock had its "outperform" rating reaffirmed by Zacks in a research note issued on Tuesday, ARN reports. They currently have a $221.00 price target on the stock.

Zacks' analyst wrote, "We are maintaining our Outperform recommendation on Chinese offshore pure play exploration and production company, CNOOC Ltd. Our bullishness stems from the company's robust performance in 2012 driven by strong oil price realizations. Going forward, CNOOC's growth profile should get a boost over the next 3 to 5 years from numerous development projects offshore China, international growth from recent acquisitions, as well as intensive exploration and development programs with its partners. Also the recent approval of the development plan of Penglai oilfield by the State Oceanic Administration to start oil production at the Penglai 19-3 oilfield is an added positive. Finally the Feb acquisition of Canadian energy producer Nexen Inc. brought in to CNOOC's fold substantial reserves in the Canadian oil sands. "

A number of other analysts have also recently weighed in on CEO. Analysts at Jefferies Group upgraded shares of CNOOC from an "underperform" rating to a "hold" rating in a research note to investors on Monday, March 25th. Separately, analysts at Bank of America upgraded shares of CNOOC from a "neutral" rating to a "buy" rating in a research note to investors on Monday, March 25th. They now have a $243.59 price target on the stock, up previously from $216.67. Finally, analysts at Nomura downgraded shares of CNOOC from a "neutral" rating to a "reduce" rating in a research note to investors on Friday, March 1st.

One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of "Hold" and an average price target of $232.30.

CNOOC (NYSE: CEO) traded up 1.92% on Tuesday, hitting $187.96. CNOOC has a 52-week low of $171.58 and a 52-week high of $226.77. The stock's 50-day moving average is currently $190.9. The company has a market cap of $83.917 billion and a price-to-earnings ratio of 8.16.

The company also recently declared a special dividend, which is scheduled for Thursday, July 11th. Shareholders of record on Thursday, May 30th will be given a dividend of $4.12 per share. The ex-dividend date of this dividend is Tuesday, May 28th.

CNOOC Limited, incorporated on August 20, 1999, is an investment holding company. The Company, through its subsidiaries, is engaged in the exploration, development, production and sales of crude oil and natural gas and other petroleum products.