Cobalt International Energy, Inc. (NYSE:CIE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.

According to Zacks, “Cobalt International Energy, Inc., through its subsidiary Cobalt International Energy, L.P., operates as an independent oil focused exploration and production company with a highly prospective world-class portfolio in the deepwater U.S. Gulf of Mexico and offshore West Africa. All of the Company’s prospects are oil-focused. The company is based in Houston, Texas. “

Separately, Citigroup Inc. reaffirmed a “sell” rating on shares of Cobalt International Energy in a research note on Monday. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $143.94.

Cobalt International Energy (NYSE CIE) traded up $0.17 on Monday, hitting $0.70. 2,842,750 shares of the stock traded hands, compared to its average volume of 599,531. Cobalt International Energy has a twelve month low of $0.50 and a twelve month high of $21.89. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of -1.70.

Cobalt International Energy (NYSE:CIE) last announced its quarterly earnings data on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.79). Cobalt International Energy had a negative net margin of 5,488.60% and a negative return on equity of 1,077.95%. The business had revenue of $13.75 million during the quarter. equities analysts anticipate that Cobalt International Energy will post -8.59 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co. NY boosted its stake in Cobalt International Energy by 1.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock valued at $162,000 after acquiring an additional 3,501 shares during the last quarter. American International Group Inc. boosted its position in shares of Cobalt International Energy by 7.0% during the first quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock worth $134,000 after purchasing an additional 16,490 shares in the last quarter. OZ Management LP bought a new position in shares of Cobalt International Energy during the second quarter worth $150,000. LMR Partners LLP bought a new position in shares of Cobalt International Energy during the second quarter worth $170,000. Finally, GSA Capital Partners LLP bought a new position in shares of Cobalt International Energy during the second quarter worth $257,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

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.

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