Shares of Cobalt International Energy, Inc. (NYSE:CIE) have earned an average recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $176.58.
CIE has been the topic of several research analyst reports. Sanford C. Bernstein restated a “market perform” rating on shares of Cobalt International Energy in a research report on Friday, July 7th. TheStreet began coverage on Cobalt International Energy in a research report on Monday, June 5th. They issued a “sell” rating on the stock. Capital One Financial Corporation downgraded Cobalt International Energy from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, June 21st. Citigroup Inc. reiterated a “sell” rating and issued a $1.00 target price (down from $1.50) on shares of Cobalt International Energy in a research report on Saturday, July 22nd. Finally, Zacks Investment Research upgraded Cobalt International Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th.
In related news, CEO Timothy J. Cutt sold 20,735 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $2.34, for a total value of $48,519.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 23,121 shares of company stock worth $53,745 over the last quarter. 2.84% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. OZ Management LP bought a new stake in Cobalt International Energy during the second quarter worth approximately $150,000. LMR Partners LLP bought a new stake in Cobalt International Energy during the second quarter worth approximately $170,000. GSA Capital Partners LLP bought a new stake in Cobalt International Energy during the second quarter worth approximately $257,000. KCG Holdings Inc. increased its stake in Cobalt International Energy by 314.6% during the first quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock worth $122,000 after acquiring an additional 173,550 shares during the last quarter. Finally, American International Group Inc. increased its stake in Cobalt International Energy by 7.0% during the first quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock worth $134,000 after acquiring an additional 16,490 shares during the last quarter. 79.78% of the stock is currently owned by institutional investors.
Cobalt International Energy (NYSE:CIE) traded up 0.59% during mid-day trading on Friday, hitting $1.70. The company’s stock had a trading volume of 491,085 shares. The stock’s market cap is $50.20 million. Cobalt International Energy has a 52-week low of $1.66 and a 52-week high of $21.89. The company’s 50 day moving average is $2.12 and its 200-day moving average is $4.40.
Cobalt International Energy (NYSE:CIE) last announced its quarterly earnings data on Tuesday, August 8th. The energy producer reported ($2.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by ($0.79). Cobalt International Energy had a negative net margin of 7,253.08% and a negative return on equity of 1,077.95%. The business had revenue of $13.75 million during the quarter. On average, equities analysts predict that Cobalt International Energy will post ($11.08) EPS for the current fiscal year.
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Cobalt International Energy Company Profile
Cobalt International Energy, Inc is an independent exploration and production company. The Company has its operations focused in the deepwater United States Gulf of Mexico. The Company also has a non-operated interest in the Diaba Block offshore Gabon in West Africa. The Company’s exploration efforts in the United States Gulf of Mexico has resulted in four oil and natural gas discoveries including the North Platte, Shenandoah, Anchor and Heidelberg fields.
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