Cobalt International Energy Inc. (CIE) Rating Reiterated by Jefferies Group
Cobalt International Energy Inc. (NYSE:CIE)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Group in a report released on Wednesday. They currently have a $1.00 price target on the stock. Jefferies Group’s price objective suggests a potential upside of 9.89% from the company’s current price.
A number of other research firms have also issued reports on CIE. Tudor Pickering raised Cobalt International Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Citigroup Inc. lowered their price target on Cobalt International Energy from $3.00 to $1.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. Finally, Deutsche Bank AG lowered their price target on Cobalt International Energy from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Cobalt International Energy presently has a consensus rating of “Hold” and an average target price of $3.71.
Shares of Cobalt International Energy (NYSE:CIE) opened at 0.91 on Wednesday. The firm’s 50-day moving average price is $1.12 and its 200 day moving average price is $1.83. The stock’s market capitalization is $373.15 million. Cobalt International Energy has a 1-year low of $0.77 and a 1-year high of $9.43.
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Cobalt International Energy (NYSE:CIE) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.38. The company earned $3.17 million during the quarter, compared to analysts’ expectations of $4.98 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Equities research analysts expect that Cobalt International Energy will post ($0.84) earnings per share for the current fiscal year.
In related news, CEO Timothy J. Cutt purchased 100,000 shares of Cobalt International Energy stock in a transaction on Tuesday, August 16th. The stock was purchased at an average cost of $1.00 per share, with a total value of $100,000.00. Following the acquisition, the chief executive officer now directly owns 3,085,074 shares in the company, valued at $3,085,074. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 2.80% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Natixis bought a new stake in shares of Cobalt International Energy during the first quarter worth $111,000. ProShare Advisors LLC increased its stake in shares of Cobalt International Energy by 120.9% in the second quarter. ProShare Advisors LLC now owns 80,910 shares of the company’s stock worth $108,000 after buying an additional 44,288 shares during the period. Parametrica Management Ltd bought a new stake in shares of Cobalt International Energy during the second quarter worth $117,000. Aperio Group LLC increased its stake in shares of Cobalt International Energy by 77.8% in the first quarter. Aperio Group LLC now owns 90,163 shares of the company’s stock worth $268,000 after buying an additional 39,463 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Cobalt International Energy by 573.0% in the third quarter. BNP Paribas Arbitrage SA now owns 109,596 shares of the company’s stock worth $136,000 after buying an additional 93,312 shares during the period.
Cobalt International Energy Company Profile
Cobalt International Energy Inc is an independent exploration and production company with operations focused in the deepwater the United States Gulf of Mexico. The Company operates through the United States segment. The Company has over four oil and gas discoveries, including the North Platte, Shenandoah, Anchor and Heidelberg fields.
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