Cobalt International Energy, Inc. (NYSE:CIE) reached a new 52-week low during trading on Friday . The company traded as low as $1.72 and last traded at $1.72, with a volume of 450,466 shares traded. The stock had previously closed at $1.81.

A number of research firms have recently commented on CIE. Zacks Investment Research raised Cobalt International Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. TheStreet began coverage on Cobalt International Energy in a report on Monday, June 5th. They set a “sell” rating for the company. ValuEngine upgraded Cobalt International Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cobalt International Energy in a report on Friday, July 7th. Finally, Citigroup Inc. reiterated a “sell” rating and set a $1.00 price objective (down from $1.50) on shares of Cobalt International Energy in a report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $204.95.

The stock has a 50-day moving average price of $2.13 and a 200-day moving average price of $4.56. The stock’s market capitalization is $51.38 million.

Cobalt International Energy (NYSE:CIE) last posted its quarterly 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. Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 7,253.08%. The firm had revenue of $13.75 million for the quarter. Analysts anticipate that Cobalt International Energy, Inc. will post ($11.08) EPS for the current year.

In related news, CEO Timothy J. Cutt sold 20,735 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $2.34, for a total transaction of $48,519.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 23,121 shares of company stock worth $53,745. 2.84% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. OZ Management LP acquired a new position in Cobalt International Energy during the 2nd quarter worth approximately $150,000. LMR Partners LLP acquired a new position in Cobalt International Energy during the 2nd quarter worth approximately $170,000. GSA Capital Partners LLP acquired a new position in Cobalt International Energy during the 2nd quarter worth approximately $257,000. KCG Holdings Inc. raised its stake in Cobalt International Energy by 314.6% during the 1st quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock worth $122,000 after buying an additional 173,550 shares during the period. Finally, American International Group Inc. raised its stake in 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 worth $134,000 after buying an additional 16,490 shares during the period. 79.78% of the stock is currently owned by institutional investors and hedge funds.

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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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