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China National Offshore Oil (NYSE:CEO) Seasonal Chart

CEO Relative to the S&P 500
CEO Relative to the S&P 500

CEO Relative to the Sector
CEO Relative to the Sector

Monthly Seasonal China National Offshore Oil (NYSE:CEO)

Seasonal Chart Analysis

Analysis of the China National Offshore Oil (NYSE:CEO) seasonal charts above shows that a Buy Date of March 18 and a Sell Date of July 5 has resulted in a geometric average return of 7.29% above the benchmark rate of the S&P 500 Total Return Index over the past 18 years. This seasonal timeframe has shown positive results compared to the benchmark in 14 of those periods. This is a good rate of success, but the return underperforms the relative buy-and-hold performance of the stock over the past 18 years by an average of 0.65% per year.

The seasonal timeframe is Inline with the period of seasonal strength for the Energy sector, which runs from January 21 to May 9. The seasonal chart for the broad sector is available via the following link: Energy Sector Seasonal Chart.

CNOOC is China’s main offshore oil and gas exploration and production company. Through its parent company, it has exclusive rights to partner with foreign companies in offshore China projects. Production for 2018 averaged 1.3 million barrels of oil equivalent per day (81% oil), and year-end proven reserves were 4.96 billion barrels of oil equivalent, or boe, (72% oil). Assets outside China make up around 35% of production.

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