Shares of Cobalt International Energy Inc. (NYSE:CIE) have earned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $3.25.
CIE has been the topic of several analyst reports. Deutsche Bank AG lowered their target price on Cobalt International Energy from $7.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Citigroup Inc. lowered their target price on Cobalt International Energy from $3.00 to $1.00 and set a “neutral” rating on the stock in a research report on Monday, August 8th. Finally, Tudor Pickering upgraded Cobalt International Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th.
In other Cobalt International Energy news, CEO Timothy J. Cutt purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were acquired at an average cost of $1.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,085,074 shares in the company, valued at $3,085,074. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.
Large investors have recently modified their holdings of the company. Natixis purchased a new stake in shares of Cobalt International Energy during the first quarter valued at about $111,000. ProShare Advisors LLC boosted its stake in shares of Cobalt International Energy by 120.9% in the second quarter. ProShare Advisors LLC now owns 80,910 shares of the company’s stock valued at $108,000 after buying an additional 44,288 shares during the period. Parametrica Management Ltd purchased a new stake in shares of Cobalt International Energy during the second quarter valued at about $117,000. Aperio Group LLC boosted its stake in shares of Cobalt International Energy by 77.8% in the first quarter. Aperio Group LLC now owns 90,163 shares of the company’s stock valued at $268,000 after buying an additional 39,463 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Cobalt International Energy during the second quarter valued at about $152,000.
Cobalt International Energy (NYSE:CIE) opened at 1.16 on Friday. Cobalt International Energy has a 12-month low of $0.77 and a 12-month high of $9.43. The stock has a 50 day moving average price of $1.17 and a 200-day moving average price of $1.96. The stock’s market capitalization is $475.66 million.
Cobalt International Energy (NYSE:CIE) last released its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.38. The firm earned $3.17 million during the quarter, compared to analysts’ expectations of $4.98 million. During the same quarter in the prior year, the business posted ($0.16) EPS. On average, equities analysts anticipate that Cobalt International Energy will post ($0.85) earnings per share for the current fiscal year.
Cobalt International Energy Company Profile
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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