光大证券指出，“三桶油”24年股价表现优异，25年继续看好“三桶油”长期价值。美国页岩油参与原油市场边际成本定价，有望和OPEC+共同对原油市场形成支撑，“三桶油”加强“增储上产”，油气产量保持高增长，十年期国债到期收益率持续走低，“三桶油”高股息资产配置价值凸显，继续看好高业绩、低估值、高分红的“三桶油”长期投资价值。Petroleum stocks collectively rose, as of the time of writing, China Oilfield Services (02883) increased by 3.2%, reported at 7.1 Hong Kong dollars; Sinopec (00386) rose by 2.51%, reported at 4.49 Hong Kong dollars; CNOOC (00883) increased by 1.971%, reported at 19.22 Hong Kong dollars.
According to Zhituo Financial APP, Petroleum stocks collectively rose. As of the time of publication, China Oilfield Services (02883) increased by 3.2%, trading at 7.1 HKD; Sinopec (00386) was up by 2.51%, trading at 4.49 HKD; CNOOC (00883) increased by 1.971%, trading at 19.22 HKD; and PetroChina (00857) was up by 1.66%, trading at 6.14 HKD.
In terms of news, overnight market speculation about the cold weather in the USA in January significantly boosted Henry Hub Natural Gas, driving Crude Oil Product to move higher. WTI February Crude Oil Futures closed up by 0.39 USD, an increase of 0.55%, settling at 70.99 USD/barrel. Brent February Crude Oil Futures closed up by 0.60 USD, an increase of 0.81%, settling at 74.39 USD/barrel.
Everbright pointed out that the three major oil companies are expected to perform well in stock prices in 2024, and maintains a Bullish outlook on the long-term value of the "three major oil companies" in 2025. USA Shale Oil participates in the marginal cost pricing of the Crude Oil Product market, which is expected to jointly support the Crude Oil Product market with OPEC+. The "three major oil companies" are strengthening "increasing reserves and output," maintaining high growth in Oil & Gas production. The yield on ten-year government bonds continues to decrease, highlighting the high dividend asset allocation value of the "three major oil companies." The long-term investment value of the "three major oil companies," characterized by high performance, low valuation, and high dividends, remains Bullish.
