Cobalt International Energy, Inc. (CIE) Hits New 52-Week Low at $0.36

Cobalt International Energy, Inc. (NYSE:CIE) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $0.36 and last traded at $0.38, with a volume of 740200 shares. The stock had previously closed at $0.44.

Several equities research analysts have issued reports on CIE shares. Citigroup Inc. reaffirmed a “sell” rating and set a $1.00 target price (down previously from $1.50) on shares of Cobalt International Energy in a research note on Saturday, July 22nd. Zacks Investment Research raised shares of Cobalt International Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and an average target price of $90.67.

The company has a debt-to-equity ratio of -1.70, a current ratio of 1.61 and a quick ratio of 1.61.

Several hedge funds have recently made changes to their positions in CIE. KCG Holdings Inc. boosted its position in shares of Cobalt International Energy by 314.6% during the 1st quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock valued at $122,000 after acquiring an additional 173,550 shares during the last quarter. American International Group Inc. raised its holdings in Cobalt International Energy by 7.0% in the 1st quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock valued at $134,000 after buying an additional 16,490 shares during the period. OZ Management LP purchased a new stake in Cobalt International Energy in the 2nd quarter valued at about $150,000. Metropolitan Life Insurance Co. NY raised its holdings in Cobalt International Energy by 1.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock valued at $162,000 after buying an additional 3,501 shares during the period. Finally, LMR Partners LLP purchased a new stake in Cobalt International Energy in the 2nd quarter valued at about $170,000. 79.87% of the stock is currently owned by hedge funds and other institutional investors.

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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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