Cobalt International Energy, Inc. (CIE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Cobalt International Energy, Inc. (NYSE:CIE) from a buy rating to a hold rating in a research report report published on Monday, April 24th.

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 lowered their price objective on shares of Cobalt International Energy from $1.00 to $0.50 and set a neutral rating on the stock in a research note on Monday, March 27th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Cobalt International Energy has an average rating of Hold and a consensus target price of $1.34.

Cobalt International Energy (NYSE:CIE) opened at 0.2817 on Monday. Cobalt International Energy has a 12 month low of $0.25 and a 12 month high of $2.70. The company’s 50-day moving average price is $0.38 and its 200 day moving average price is $0.81. The firm’s market capitalization is $124.72 million.

Cobalt International Energy (NYSE:CIE) last posted its quarterly earnings data on Monday, May 8th. The energy producer reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.02. The company had revenue of $9.87 million for the quarter, compared to analyst estimates of $14.10 million. Analysts predict that Cobalt International Energy will post ($0.55) EPS for the current year.

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A number of institutional investors have recently bought and sold shares of CIE. Federated Investors Inc. PA raised its position in Cobalt International Energy by 55.7% in the fourth quarter. Federated Investors Inc. PA now owns 170,454 shares of the energy producer’s stock worth $208,000 after buying an additional 60,958 shares in the last quarter. Norges Bank purchased a new position in Cobalt International Energy during the fourth quarter worth approximately $1,888,000. A.R.T. Advisors LLC raised its position in Cobalt International Energy by 927.9% in the fourth quarter. A.R.T. Advisors LLC now owns 149,041 shares of the energy producer’s stock worth $181,000 after buying an additional 134,541 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in 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 in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in Cobalt International Energy by 60.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 184,516 shares of the energy producer’s stock worth $225,000 after buying an additional 69,717 shares in the last quarter.

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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