Cobalt International Energy Coverage Initiated by Analysts at Brean Capital (CIE)
Equities researchers at Brean Capital assumed coverage on shares of Cobalt International Energy (NYSE:CIE) in a research report issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $24.00 price target on the stock. Brean Capital’s target price indicates a potential upside of 28.48% from the stock’s previous close.
Cobalt International Energy (NYSE:CIE) opened at 18.68 on Tuesday. 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 $18.16 and a 200-day moving average of $17.52. The company’s market cap is $7.604 billion.
Cobalt International Energy (NYSE:CIE) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.17) by $0.03. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Analysts expect that Cobalt International Energy will post $-0.67 EPS for the current fiscal year.
In other Cobalt International Energy news, SVP Jeffrey A. Starzec unloaded 12,500 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $18.56, for a total transaction of $232,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.
CIE has been the subject of a number of other recent research reports. Analysts at Bernstein initiated coverage on shares of Cobalt International Energy in a research note on Monday. They set an “outperform” rating and a $27.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Cobalt International Energy in a research note on Thursday, June 5th. They now have a $30.00 price target on the stock, up previously from $28.00. Finally, analysts at Global Hunter Securities cut their price target on shares of Cobalt International Energy from $33.00 to $27.00 in a research note on Tuesday, June 3rd. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $29.04.
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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