Cobalt International Energy, Inc. (NYSE:CIE)‘s stock had its “sell” rating restated by stock analysts at Citigroup Inc. in a report released on Saturday. They currently have a $1.00 target price on the energy producer’s stock, down from their prior target price of $1.50. Citigroup Inc.’s target price would suggest a potential downside of 59.68% from the company’s current price.

A number of other research firms have also commented on CIE. Sanford C. Bernstein lowered shares of Cobalt International Energy from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $450.00 to $270.00 in a research note on Thursday, May 4th. ValuEngine raised shares of Cobalt International Energy from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Capital One Financial Corporation lowered shares of Cobalt International Energy from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, June 21st. Zacks Investment Research lowered shares of Cobalt International Energy from a “buy” rating to a “hold” rating in a research note on Monday, April 24th. Finally, TheStreet assumed coverage on shares of Cobalt International Energy in a research note on Monday, June 5th. They issued a “sell” rating for the company. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $283.29.

Shares of Cobalt International Energy (NYSE:CIE) traded down 1.59% during midday trading on Friday, hitting $2.48. The stock had a trading volume of 791,169 shares. The company’s market cap is $73.20 million. The firm has a 50 day moving average of $2.89 and a 200-day moving average of $7.81. Cobalt International Energy has a one year low of $2.12 and a one year high of $24.00.

Cobalt International Energy (NYSE:CIE) last posted its quarterly earnings data on Monday, May 8th. The energy producer reported ($33.75) EPS for the quarter, missing analysts’ consensus estimates of ($29.25) by $4.50. Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 10,396.82%. The firm had revenue of $9.87 million during the quarter, compared to analyst estimates of $14.10 million. On average, analysts forecast that Cobalt International Energy will post ($6.53) earnings per share for the current fiscal year.

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In other Cobalt International Energy news, CEO Timothy J. Cutt sold 20,735 shares of Cobalt International Energy stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $2.34, for a total transaction of $48,519.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.84% of the company’s stock.

Large investors have recently modified their holdings of the stock. Carlson Capital L P raised its stake in shares of Cobalt International Energy by 49.1% in the second quarter. Carlson Capital L P now owns 16,258,639 shares of the energy producer’s stock worth $21,787,000 after buying an additional 5,356,611 shares during the period. Janus Capital Management raised its stake in shares of Cobalt International Energy by 12.7% in the third quarter. Janus Capital Management now owns 13,996,714 shares of the energy producer’s stock worth $99,096,000 after buying an additional 1,579,461 shares during the period. Millennium Management LLC raised its stake in shares of Cobalt International Energy by 31.9% in the fourth quarter. Millennium Management LLC now owns 11,959,560 shares of the energy producer’s stock worth $64,582,000 after buying an additional 2,895,685 shares during the period. Adage Capital Partners GP L.L.C. raised its stake in shares of Cobalt International Energy by 58.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 5,329,393 shares of the energy producer’s stock worth $6,608,000 after buying an additional 1,956,500 shares during the period. Finally, Proxima Capital Management LLC raised its stake in shares of Cobalt International Energy by 8.5% in the first quarter. Proxima Capital Management LLC now owns 4,800,000 shares of the energy producer’s stock worth $2,560,000 after buying an additional 375,000 shares during the period.

About Cobalt International Energy

Cobalt International Energy, Inc is an independent exploration and production company. The Company has its operations focused in the deepwater United States Gulf of Mexico. The Company also has a non-operated interest in the Diaba Block offshore Gabon in West Africa. The Company’s exploration efforts in the United States Gulf of Mexico has resulted in four oil and natural gas discoveries including the North Platte, Shenandoah, Anchor and Heidelberg fields.

Analyst Recommendations for Cobalt International Energy (NYSE:CIE)

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