Zacks Investment Research downgraded shares of Cobalt International Energy, Inc. (NYSE:CIE) from a buy rating to a hold rating in a research note released on Tuesday, October 10th.
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. “
Several other analysts have also recently weighed in on CIE. Capital One Financial Corporation cut shares of Cobalt International Energy from an equal weight rating to an underweight rating in a research note on Wednesday, June 21st. ValuEngine raised shares of Cobalt International Energy from a sell rating to a hold rating in a research note on Wednesday, June 21st. Sanford C. Bernstein restated a market perform rating on shares of Cobalt International Energy in a report on Friday, July 7th. Finally, Citigroup Inc. restated a sell rating and issued a $1.00 target price (down previously from $1.50) on shares of Cobalt International Energy in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has an average rating of Hold and an average price target of $144.06.
Shares of Cobalt International Energy (NYSE:CIE) opened at 1.04 on Tuesday. The firm’s 50-day moving average price is $1.47 and its 200 day moving average price is $3.13. Cobalt International Energy has a 52 week low of $0.96 and a 52 week high of $21.89. The company’s market cap is $30.71 million.
Cobalt International Energy (NYSE:CIE) last posted its earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.79). The company had revenue of $13.75 million for the quarter. Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 7,253.08%. On average, equities analysts predict that Cobalt International Energy will post ($7.74) EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY grew its position in Cobalt International Energy by 1.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock worth $162,000 after purchasing an additional 3,501 shares in the last quarter. American International Group Inc. grew 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 period. Teachers Advisors LLC grew its position in shares of Cobalt International Energy by 5.0% during the 4th quarter. Teachers Advisors LLC now owns 452,246 shares of the energy producer’s stock valued at $552,000 after acquiring an additional 21,368 shares during the period. OZ Management LP bought a new position in shares of Cobalt International Energy during the 2nd quarter valued at approximately $150,000. Finally, LMR Partners LLP bought a new position in shares of Cobalt International Energy during the 2nd quarter valued at approximately $170,000. 79.78% of the stock is owned by institutional investors and hedge funds.
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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