Cobalt International Energy, Inc. (CIE) Given Average Recommendation of “Hold” by Analysts
Shares of Cobalt International Energy, Inc. (NYSE:CIE) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $176.58.
Several equities research analysts recently issued reports on CIE shares. Zacks Investment Research lowered shares of Cobalt International Energy from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. TheStreet started coverage on shares of Cobalt International Energy in a report on Monday, June 5th. They issued a “sell” rating for the company. Capital One Financial Corporation lowered shares of Cobalt International Energy from an “equal weight” rating to an “underweight” rating in a report on Wednesday, June 21st. ValuEngine raised shares of Cobalt International Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Cobalt International Energy in a report on Friday, July 7th.
In other Cobalt International Energy news, CEO Timothy J. Cutt sold 20,735 shares of the stock in a transaction that occurred 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 through the SEC website. Over the last ninety days, insiders have sold 23,121 shares of company stock valued at $53,745. Insiders own 2.84% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CIE. KCG Holdings Inc. grew its holdings in Cobalt International Energy by 314.6% during the 1st quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock valued at $122,000 after buying an additional 173,550 shares in the last quarter. American International Group Inc. boosted its position in shares of Cobalt International Energy by 7.0% during the 1st quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock valued at $134,000 after acquiring an additional 16,490 shares during the last quarter. OZ Management LP bought a new position in shares of Cobalt International Energy during the 2nd quarter valued at approximately $150,000. SG Americas Securities LLC bought a new position in shares of Cobalt International Energy during the 1st quarter valued at approximately $160,000. Finally, Bank of Montreal Can boosted its position in shares of Cobalt International Energy by 108,695.7% during the 1st quarter. Bank of Montreal Can now owns 300,276 shares of the energy producer’s stock valued at $160,000 after acquiring an additional 300,000 shares during the last quarter. 79.78% of the stock is owned by institutional investors and hedge funds.
Cobalt International Energy (CIE) traded down 3.87% during trading on Friday, hitting $1.74. 783,929 shares of the stock were exchanged. Cobalt International Energy has a 1-year low of $1.71 and a 1-year high of $21.90. The company has a 50-day moving average price of $2.13 and a 200 day moving average price of $4.56. The firm’s market capitalization is $51.38 million.
Cobalt International Energy (NYSE:CIE) last released its earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by $0.79. The firm had revenue of $13.75 million during the quarter. Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 7,253.08%. Equities analysts predict that Cobalt International Energy will post ($11.08) earnings per share for the current fiscal year.
Cobalt International Energy Company Profile
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.
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