Citigroup Inc. reaffirmed their sell rating on shares of Cobalt International Energy, Inc. (NYSE:CIE) in a research report released on Saturday, July 22nd. They currently have a $1.00 price objective on the energy producer’s stock, down from their prior price objective of $1.50.
Several other brokerages also recently commented on CIE. Sanford C. Bernstein downgraded Cobalt International Energy from an outperform rating to a market perform rating and dropped their price objective for the stock from $450.00 to $270.00 in a research note on Thursday, May 4th. ValuEngine raised Cobalt International Energy from a sell rating to a hold rating in a research note on Wednesday, June 21st. Capital One Financial Corporation downgraded Cobalt International Energy from an equal weight rating to an underweight rating in a research note on Wednesday, June 21st. Zacks Investment Research downgraded Cobalt International Energy from a buy rating to a hold rating in a research note on Monday, April 24th. Finally, TheStreet assumed coverage on Cobalt International Energy in a research note on Monday, June 5th. They issued a sell rating on the stock. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $204.95.
Shares of Cobalt International Energy (NYSE:CIE) traded down 5.74% during trading on Friday, hitting $1.97. The stock had a trading volume of 601,938 shares. The stock’s 50-day moving average price is $2.34 and its 200-day moving average price is $5.65. Cobalt International Energy has a one year low of $1.82 and a one year high of $21.90. The company’s market cap is $58.17 million.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings data on Tuesday, August 8th. The energy producer reported ($2.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by $0.79. The business 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%. On average, equities research analysts forecast that Cobalt International Energy will post ($9.80) EPS for the current fiscal year.
In other news, CEO Timothy J. Cutt sold 20,735 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $2.34, for a total value of $48,519.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 23,121 shares of company stock valued at $53,745 in the last 90 days. 2.84% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of CIE. 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 worth $162,000 after buying an additional 3,501 shares in the last quarter. American International Group Inc. boosted its stake in shares of 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 worth $134,000 after buying an additional 16,490 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Cobalt International Energy by 5.0% in the fourth quarter. Teachers Advisors LLC now owns 452,246 shares of the energy producer’s stock worth $552,000 after buying an additional 21,368 shares in the last quarter. OZ Management LP purchased a new stake in shares of Cobalt International Energy during the second quarter worth about $150,000. Finally, Federated Investors Inc. PA increased its stake in Cobalt International Energy by 55.7% in the fourth quarter. Federated Investors Inc. PA now owns 170,454 shares of the energy producer’s stock worth $208,000 after buying an additional 60,958 shares during the last quarter.
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.
Receive News & Ratings for Cobalt International Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cobalt International Energy Inc. and related companies with MarketBeat.com's FREE daily email newsletter.