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.
To view Zacks’ full report, visit Zacks’ official website.
Receive News & Ratings for Cobalt International Energy Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cobalt International Energy Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.