Proxima Capital Management LLC Has $910,000 Position in Cobalt International Energy, Inc. (CIE)
Proxima Capital Management LLC reduced its stake in Cobalt International Energy, Inc. (NYSE:CIE) by 92.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 368,333 shares of the energy producer’s stock after selling 4,431,667 shares during the quarter. Proxima Capital Management LLC owned approximately 1.25% of Cobalt International Energy worth $910,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new stake in Cobalt International Energy in the 2nd quarter worth approximately $257,000. OZ Management LP acquired a new stake in Cobalt International Energy in the 2nd quarter worth approximately $150,000. LMR Partners LLP acquired a new stake in Cobalt International Energy in the 2nd quarter worth approximately $170,000. Goldman Sachs Group Inc. lifted its holdings in Cobalt International Energy by 10.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,471,488 shares of the energy producer’s stock worth $785,000 after purchasing an additional 141,822 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Cobalt International Energy by 1.2% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock worth $162,000 after purchasing an additional 3,501 shares during the last quarter. Hedge funds and other institutional investors own 79.78% of the company’s stock.
Shares of Cobalt International Energy, Inc. (NYSE CIE) traded down 4.63% on Friday, reaching $1.03. The company’s stock had a trading volume of 359,194 shares. Cobalt International Energy, Inc. has a 1-year low of $1.03 and a 1-year high of $21.89. The firm’s market cap is $30.41 million. The company’s 50 day moving average is $1.62 and its 200-day moving average is $3.39.
Cobalt International Energy (NYSE:CIE) last released its earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.79). The firm had revenue of $13.75 million for 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 expect that Cobalt International Energy, Inc. will post ($7.74) EPS for the current year.
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Several equities research analysts recently weighed in on CIE shares. Zacks Investment Research upgraded Cobalt International Energy from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a report on Tuesday, October 3rd. ValuEngine raised Cobalt International Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Cobalt International Energy in a research report on Friday, July 7th. Citigroup Inc. reaffirmed a “sell” rating and issued a $1.00 price target (down from $1.50) on shares of Cobalt International Energy in a research report on Saturday, July 22nd. Finally, Capital One Financial Corporation downgraded Cobalt International Energy from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $160.25.
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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