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研報掘金丨長江證券:中國海油估值或將持續修復,維持“買入”評級
格隆匯 04-03 14:26

長江證券研報指出,中國海油(600938.SH)24年實現歸母淨利潤1379.36億元,同比增長11.38%。單四季度實現歸母淨利潤212.77億元,同比減少18.78%。油氣淨產量大幅提高,實現油價變動優於市場,業績增幅遠高於同期油價波動。公司把成本管控貫穿於勘探、開發、生產的全過程,並積極推動技術和管理創新,逐步建立和鞏固了在行業的成本競爭優勢,桶油成本遠低於同行業可比公司。展望未來,油價中樞有望中高位運行,且公司產量穩步增長。隨着以三桶油為代表的央國企盈利能力差距逐漸縮小,中國海油等央國企龍頭企業估值仍有較大提升前景,估值或將持續修復。維持“買入”評級。

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