Cobalt International Energy Inc. (NYSE:CIE) Receives $3.25 Average Target Price from Brokerages
Cobalt International Energy Inc. (NYSE:CIE) has been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the stock. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $3.25.
Several research firms have weighed in on CIE. Tudor Pickering raised Cobalt International Energy from a “hold” rating to a “buy” rating in a research report on Thursday, August 18th. Citigroup Inc. cut their price objective 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, Deutsche Bank AG cut their price objective 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.
In related news, CEO Timothy J. Cutt acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average cost of $1.00 per share, for a total transaction of $100,000.00. Following the purchase, the chief executive officer now owns 3,085,074 shares in the company, valued at approximately $3,085,074. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Cobalt International Energy by 4.8% in the second quarter. Vanguard Group Inc. now owns 25,929,267 shares of the company’s stock worth $34,746,000 after buying an additional 1,196,799 shares during the last quarter. Carlson Capital L P raised its stake in Cobalt International Energy by 49.1% in the second quarter. Carlson Capital L P now owns 16,258,639 shares of the company’s stock worth $21,787,000 after buying an additional 5,356,611 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in Cobalt International Energy by 4.4% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,330,539 shares of the company’s stock worth $8,483,000 after buying an additional 268,687 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Cobalt International Energy by 20.9% in the second quarter. Point72 Asset Management L.P. now owns 4,952,900 shares of the company’s stock worth $6,637,000 after buying an additional 856,000 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Cobalt International Energy by 198.8% in the second quarter. Bank of New York Mellon Corp now owns 4,579,716 shares of the company’s stock worth $6,137,000 after buying an additional 3,047,248 shares during the last quarter.
Shares of Cobalt International Energy (NYSE:CIE) opened at 1.16 on Friday. The firm’s market capitalization is $475.66 million. The stock’s 50 day moving average price is $1.17 and its 200 day moving average price is $1.96. Cobalt International Energy has a 12-month low of $0.77 and a 12-month high of $9.43.
Cobalt International Energy (NYSE:CIE) last posted 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 business earned $3.17 million during the quarter, compared to analyst estimates of $4.98 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Equities research 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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