Insider Selling: Cobalt International Energy Director Unloads 2,500 Shares of Stock (CIE)
Cobalt International Energy (NYSE:CIE) Director Jack E. Golden unloaded 2,500 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $18.32, for a total value of $45,800.00. Following the completion of the sale, the director now directly owns 96,398 shares in the company, valued at approximately $1,766,011. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cobalt International Energy (NYSE:CIE) traded down 0.44% during mid-day trading on Tuesday, hitting $18.27. The stock had a trading volume of 1,685,704 shares. Cobalt International Energy has a 52 week low of $13.75 and a 52 week high of $30.27. The stock’s 50-day moving average is $18.20 and its 200-day moving average is $17.60. The company’s market cap is $7.437 billion.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings data 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 $-0.77 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Sanford C. Bernstein initiated coverage on shares of Cobalt International Energy in a research note on Tuesday, June 17th. They set an “outperform” rating on the stock. Separately, analysts at Brean Capital initiated coverage on shares of Cobalt International Energy in a research note on Tuesday, June 17th. They set a “buy” rating and a $24.00 price target on the stock. Finally, analysts at Bernstein initiated coverage on shares of Cobalt International Energy in a research note on Monday, June 16th. They set an “outperform” rating and a $27.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price 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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