Cobalt International Energy, Inc. (CIE) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Cobalt International Energy, Inc. (NYSE:CIE) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $1.50 price target on the energy producer’s stock.
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. “
CIE has been the subject of a number of other research reports. Sanford C. Bernstein reissued a market perform rating on shares of Cobalt International Energy in a report on Friday, July 7th. TheStreet started coverage on Cobalt International Energy in a research note on Monday, June 5th. They issued a sell rating for the company. Capital One Financial Corporation downgraded Cobalt International Energy from an equal weight rating to an underweight rating in a report on Wednesday, June 21st. Citigroup Inc. reaffirmed a sell rating and set a $1.00 price target (down from $1.50) on shares of Cobalt International Energy in a report on Saturday, July 22nd. Finally, ValuEngine raised Cobalt International Energy from a sell rating to a hold rating in a research report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Cobalt International Energy currently has a consensus rating of Hold and a consensus price target of $160.25.
Cobalt International Energy (NYSE:CIE) traded down 2.94% during midday trading on Tuesday, hitting $1.32. The stock had a trading volume of 145,373 shares. The firm has a 50 day moving average of $1.78 and a 200 day moving average of $3.60. Cobalt International Energy has a 52 week low of $1.29 and a 52 week high of $21.89. The firm’s market cap is $38.98 million.
Cobalt International Energy (NYSE:CIE) last announced its quarterly earnings data 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). The firm had revenue of $13.75 million during the quarter. Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 7,253.08%. Equities research analysts predict that Cobalt International Energy will post ($11.08) EPS for the current year.
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Large investors have recently bought and sold shares of the business. OZ Management LP purchased a new stake in Cobalt International Energy during the 2nd quarter valued at $150,000. LMR Partners LLP bought a new position in shares of Cobalt International Energy during the 2nd quarter valued at $170,000. GSA Capital Partners LLP bought a new position in shares of Cobalt International Energy during the 2nd quarter valued at $257,000. KCG Holdings Inc. lifted its holdings in shares of Cobalt International Energy by 314.6% during the 1st 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 period. Finally, American International Group Inc. lifted its holdings in shares of 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 valued at $134,000 after buying an additional 16,490 shares during the period. 79.78% of the stock is owned by institutional investors and hedge funds.
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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