Cobalt International Energy Lowered to “Neutral” at Zacks (CIE)
Cobalt International Energy (NYSE:CIE) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday. They currently have a $17.10 target price on the stock. Zacks‘s target price suggests a potential upside of 11.40% from the stock’s previous close.
Shares of Cobalt International Energy (NYSE:CIE) traded down 1.56% during mid-day trading on Tuesday, hitting $15.11. The stock had a trading volume of 1,209,778 shares. Cobalt International Energy has a 52 week low of $13.54 and a 52 week high of $26.32. The stock has a 50-day moving average of $15.51 and a 200-day moving average of $17.43. The company’s market cap is $6.151 billion.
Cobalt International Energy (NYSE:CIE) last announced its earnings results on Tuesday, August 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by $0.06. During the same quarter in the previous year, the company posted ($0.19) earnings per share. Analysts expect that Cobalt International Energy will post $-0.76 EPS for the current fiscal year.
A number of other firms have also recently commented on CIE. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Cobalt International Energy in a research note on Wednesday, August 6th. They now have a $22.00 price target on the stock, down previously from $27.00. Separately, analysts at RBC Capital cut their price target on shares of Cobalt International Energy from $22.00 to $18.00 in a research note on Wednesday, August 6th. Finally, analysts at Howard Weil cut their price target on shares of Cobalt International Energy from $40.00 to $35.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Cobalt International Energy has a consensus rating of “Buy” and an average price target of $26.82.
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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