Cobalt International Energy, Inc. (CIE) Hits New 12-Month Low at $0.69

Cobalt International Energy, Inc. (NYSE:CIE) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $0.69 and last traded at $0.00, with a volume of shares trading hands.

CIE has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Cobalt International Energy from a “hold” rating to a “buy” rating and set a $1.50 target price for the company in a research report on Tuesday, October 3rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Cobalt International Energy in a research report on Friday, July 7th. Finally, Citigroup Inc. reiterated a “sell” rating and set a $1.00 target price (down from $1.50) on shares of Cobalt International Energy in a research report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $143.94.

Cobalt International Energy (NYSE:CIE) last announced its quarterly earnings results on Tuesday, August 8th. The energy producer reported ($2.39) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.79). The firm had revenue of $13.75 million for the quarter. Cobalt International Energy had a negative net margin of 7,253.08% and a negative return on equity of 1,077.95%.

Institutional investors have recently made changes to their positions in the company. OZ Management LP purchased a new position in shares of Cobalt International Energy during the second quarter valued at $150,000. LMR Partners LLP purchased a new position in shares of Cobalt International Energy during the second quarter valued at $170,000. GSA Capital Partners LLP purchased a new position in shares of Cobalt International Energy during the second quarter valued at $257,000. KCG Holdings Inc. increased its stake in shares of Cobalt International Energy by 314.6% during the first 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. boosted its position in Cobalt International Energy by 7.0% during the first quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock valued at $134,000 after purchasing an additional 16,490 shares in the last quarter. Hedge funds and other institutional investors own 79.79% of the company’s stock.

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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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