Integrated energy stocks
To conclude our series on the biggest movers in the energy sector, we’ll look at the biggest losses from the US integrated energy sector this week.
China National Offshore Oil Corporation: The biggest integrated energy loss
China National Offshore Oil Corporation (CEO) is the most-losing stock in the space this week. It decreased from last week’s close of $147.87 to $143.84 on April 5, a fall of ~2.7%.
On March 29, China National Offshore Oil Corporation announced its 2017 annual results for the year ended December 31, 2017. In 2017, CEO reported revenues of ~$27.6 billion, lower than the Wall Street analyst consensus of ~$28.3 billion. While CEO missed earnings per share estimates by $2.37 in 2017, it reported an adjusted profit of $8.14 per share, whereas Wall Street analyst consensus was for a profit of $10.51 per share.