Cobalt International Energy, Inc. (NYSE:CIE) released its quarterly earnings data on Monday. The energy producer reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $9.87 million during the quarter, compared to analyst estimates of $14.10 million.
Cobalt International Energy (NYSE:CIE) traded up 7.0549% on Friday, reaching $0.2868. The company had a trading volume of 6,262,473 shares. Cobalt International Energy has a 12 month low of $0.25 and a 12 month high of $2.70. The stock has a 50 day moving average of $0.40 and a 200 day moving average of $0.83. The firm’s market capitalization is $126.98 million.
Hedge funds have recently bought and sold shares of the company. Federated Investors Inc. PA raised 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 valued at $208,000 after buying an additional 60,958 shares during the last quarter. Norges Bank bought a new stake in shares of Cobalt International Energy during the fourth quarter worth $1,888,000. A.R.T. Advisors LLC raised its stake in shares of Cobalt International Energy by 927.9% in the fourth quarter. A.R.T. Advisors LLC now owns 149,041 shares of the energy producer’s stock worth $181,000 after buying an additional 134,541 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Cobalt International Energy by 58.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 5,329,393 shares of the energy producer’s stock worth $6,608,000 after buying an additional 1,956,500 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Cobalt International Energy by 60.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 184,516 shares of the energy producer’s stock worth $225,000 after buying an additional 69,717 shares in the last quarter.
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A number of research firms have 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 company from $2.00 to $1.20 in a report on Thursday, May 4th. Zacks Investment Research downgraded Cobalt International Energy from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Citigroup Inc dropped their price objective on Cobalt International Energy from $1.00 to $0.50 and set a “neutral” rating on the stock in a report on Monday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $1.34.
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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