Zacks Investment Research downgraded shares of Cobalt International Energy, Inc. (NYSE:CIE) from a hold rating to a sell rating in a research note released on Tuesday, May 16th.

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. “

A number of other equities analysts have also commented on the stock. Sanford C. Bernstein lowered shares of Cobalt International Energy from an outperform rating to a market perform rating and cut their price target for the stock from $2.00 to $1.20 in a report on Thursday, May 4th. Citigroup Inc lowered shares of Cobalt International Energy from a neutral rating to a sell rating in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Cobalt International Energy presently has a consensus rating of Hold and an average target price of $1.34.

Shares of Cobalt International Energy (NYSE:CIE) traded down 3.4949% during mid-day trading on Tuesday, hitting $0.2568. The company had a trading volume of 9,507,510 shares. Cobalt International Energy has a 12-month low of $0.25 and a 12-month high of $2.47. The firm’s market cap is $113.70 million. The firm’s 50 day moving average is $0.37 and its 200-day moving average is $0.80.

Cobalt International Energy (NYSE:CIE) last issued its earnings results on Monday, May 8th. The energy producer reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $9.87 million for the quarter, compared to analysts’ expectations of $14.10 million. On average, equities analysts expect that Cobalt International Energy will post ($0.55) EPS for the current year.

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Several large investors have recently bought and sold shares of the company. KCG Holdings Inc. raised its position in shares of Cobalt International Energy by 314.6% in the first quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock valued at $122,000 after buying an additional 173,550 shares during the last quarter. American International Group Inc. boosted its stake in Cobalt International Energy by 7.0% in the first quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock valued at $134,000 after buying an additional 16,490 shares during the last quarter. SG Americas Securities LLC bought a new stake in Cobalt International Energy during the first quarter valued at about $160,000. Bank of Montreal Can boosted its stake in shares of Cobalt International Energy by 108,695.7% in the first quarter. Bank of Montreal Can now owns 300,276 shares of the energy producer’s stock valued at $160,000 after buying an additional 300,000 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of Cobalt International Energy by 1.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock valued at $162,000 after buying an additional 3,501 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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