Cobalt International Energy Inc. (NYSE:CIE) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 55,591,254 shares, a decline of 7.3% from the August 31st total of 59,948,877 shares. Based on an average trading volume of 6,603,493 shares, the short-interest ratio is currently 8.4 days. Approximately 16.9% of the shares of the stock are short sold.
A number of research firms have commented on CIE. Deutsche Bank AG cut their price target on shares of Cobalt International Energy from $7.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Citigroup Inc. cut their price target on shares of Cobalt International Energy from $3.00 to $1.00 and set a “neutral” rating for the company in a research note on Monday, August 8th. Finally, Tudor Pickering raised shares of Cobalt International Energy from a “hold” rating to a “buy” rating in a research note on Thursday, August 18th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.04.
In other news, CEO Timothy J. Cutt acquired 100,000 shares of Cobalt International Energy stock in a transaction that occurred on Tuesday, August 16th. The stock was bought at an average price of $1.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the chief executive officer now owns 3,085,074 shares in the company, valued at $3,085,074. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Cobalt International Energy during the fourth quarter valued at $11,346,000. Aperio Group LLC boosted its stake in Cobalt International Energy by 77.8% in the first quarter. Aperio Group LLC now owns 90,163 shares of the company’s stock worth $268,000 after buying an additional 39,463 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Cobalt International Energy during the first quarter worth approximately $421,000. TIAA CREF Investment Management LLC boosted its stake in Cobalt International Energy by 49.6% in the first quarter. TIAA CREF Investment Management LLC now owns 1,299,603 shares of the company’s stock worth $3,860,000 after buying an additional 430,598 shares during the last quarter. Finally, Botty Investors LLC boosted its stake in Cobalt International Energy by 121.6% in the first quarter. Botty Investors LLC now owns 405,995 shares of the company’s stock worth $1,206,000 after buying an additional 222,784 shares during the last quarter.
Shares of Cobalt International Energy (NYSE:CIE) opened at 1.24 on Friday. The stock has a 50 day moving average of $1.15 and a 200-day moving average of $2.01. Cobalt International Energy has a one year low of $0.77 and a one year high of $9.43. The company’s market capitalization is $508.47 million.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by $0.38. The firm had revenue of $3.17 million for the quarter, compared to analysts’ expectations of $4.98 million. During the same quarter in the previous year, the business earned ($0.16) EPS. On average, equities analysts expect that Cobalt International Energy will post ($0.85) earnings per share for the current year.
About Cobalt International Energy
Cobalt International Energy Inc is an independent exploration and production company with operations focused in the deepwater the United States Gulf of Mexico. The Company operates through the United States segment. The Company has over four oil and gas discoveries, including the North Platte, Shenandoah, Anchor and Heidelberg fields.
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