Equities research analysts predict that Cobalt International Energy, Inc. (NYSE:CIE) will report earnings of ($1.60) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Cobalt International Energy’s earnings. The lowest EPS estimate is ($1.95) and the highest is ($1.25). Cobalt International Energy reported earnings of ($7.35) per share in the same quarter last year, which would indicate a positive year over year growth rate of 78.2%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 1st.
On average, analysts expect that Cobalt International Energy will report full-year earnings of ($7.21) per share for the current year. For the next year, analysts anticipate that the business will post earnings of ($5.77) per share, with EPS estimates ranging from ($7.46) to ($4.08). Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Cobalt International Energy.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings results on Monday, May 8th. The energy producer reported ($33.75) EPS for the quarter, missing the consensus estimate of ($29.25) by $4.50. The company had revenue of $9.87 million during the quarter, compared to analysts’ expectations of $14.10 million. Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 10,396.82%.
A number of equities research analysts have commented on CIE shares. 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. downgraded Cobalt International Energy from a “neutral” rating to a “sell” rating in a report on Wednesday, May 3rd. Zacks Investment Research downgraded Cobalt International Energy from a “hold” rating to a “sell” rating in a report on Tuesday, May 16th. Sanford C. Bernstein downgraded Cobalt International Energy from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $450.00 to $270.00 in a report on Thursday, May 4th. Finally, ValuEngine raised Cobalt International Energy from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $283.29.
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In other news, CEO Timothy J. Cutt sold 20,735 shares of Cobalt International Energy stock in a transaction 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 Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.84% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CIE. Norges Bank purchased a new position in Cobalt International Energy during the fourth quarter valued at about $1,888,000. Cobalt Capital Management Inc. purchased a new position in Cobalt International Energy during the first quarter valued at about $325,000. Proxima Capital Management LLC increased its position in Cobalt International Energy by 8.5% in the first quarter. Proxima Capital Management LLC now owns 4,800,000 shares of the energy producer’s stock valued at $2,560,000 after buying an additional 375,000 shares during the period. SG Americas Securities LLC purchased a new position in Cobalt International Energy during the first quarter valued at about $160,000. Finally, Bank of Montreal Can increased its position in Cobalt International Energy by 108,695.7% in the first quarter. Bank of Montreal Can now owns 300,276 shares of the energy producer’s stock valued at $160,000 after buying an additional 300,000 shares during the period.
Shares of Cobalt International Energy (CIE) traded down 7.75% during midday trading on Friday, reaching $2.38. 835,510 shares of the company traded hands. The stock’s 50-day moving average is $2.62 and its 200-day moving average is $6.93. Cobalt International Energy has a 1-year low of $2.12 and a 1-year high of $22.35. The stock’s market capitalization is $70.25 million.
About Cobalt International Energy
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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