Cobalt International Energy Receives New Coverage from Analysts at Clarkson Capital (CIE)
Equities researchers at Clarkson Capital began coverage on shares of Cobalt International Energy (NYSE:CIE) in a research report issued on Tuesday, American Banking & Market News reports. The firm set an “outperform” rating and a $35.50 price target on the stock. Clarkson Capital’s price objective would suggest a potential upside of 99.89% from the stock’s previous close.
A number of other firms have also recently commented on CIE. Analysts at ISI Group downgraded shares of Cobalt International Energy from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 4th. Separately, analysts at RBC Capital downgraded shares of Cobalt International Energy from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 3rd. They now have a $22.00 price target on the stock, down previously from $24.00. Finally, analysts at Global Hunter Securities raised their price target on shares of Cobalt International Energy from $3.00 to $33.00 in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Cobalt International Energy presently has an average rating of “Buy” and a consensus target price of $31.56.
Cobalt International Energy (NYSE:CIE) traded up 0.73% during mid-day trading on Tuesday, hitting $17.89. The stock had a trading volume of 1,722,696 shares. Cobalt International Energy has a 52-week low of $13.75 and a 52-week high of $30.27. The stock has a 50-day moving average of $18.20 and a 200-day moving average of $19.1. The company’s market cap is $7.280 billion.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by $0.05. During the same quarter in the previous year, the company posted ($0.16) earnings per share. On average, analysts predict that Cobalt International Energy will post $-0.71 earnings per share for the current fiscal year.
In other Cobalt International Energy news, EVP Michael Drennon unloaded 2,721 shares of Cobalt International Energy stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $18.46, for a total transaction of $50,229.66. Following the sale, the executive vice president now directly owns 176,749 shares in the company, valued at approximately $3,262,787. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Cobalt International Energy, Inc independent, oil-focused exploration and production company with a salt prospect inventory in the deepwater of the United States Gulf of Mexico and offshore Angola and Gabon in West Africa.
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