Q3 2017 EPS Estimates for Cobalt International Energy, Inc. (CIE) Increased by Analyst
Cobalt International Energy, Inc. (NYSE:CIE) – Equities researchers at Capital One Financial Corporation boosted their Q3 2017 earnings per share (EPS) estimates for shares of Cobalt International Energy in a report released on Tuesday. Capital One Financial Corporation analyst R. Tullis now anticipates that the energy producer will post earnings of ($1.28) per share for the quarter, up from their previous forecast of ($1.43). Capital One Financial Corporation currently has a “Underweight” rating on the stock. Capital One Financial Corporation also issued estimates for Cobalt International Energy’s Q4 2017 earnings at ($1.28) EPS and FY2018 earnings at ($6.92) EPS.
Several other research analysts have also commented on the company. Sanford C. Bernstein restated a “market perform” rating on shares of Cobalt International Energy in a research report on Friday, July 7th. Zacks Investment Research lowered Cobalt International Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Citigroup Inc. restated a “sell” rating and set a $1.00 price target (down from $1.50) on shares of Cobalt International Energy in a research report on Saturday, July 22nd. TheStreet started coverage on Cobalt International Energy in a research report on Monday, June 5th. They set a “sell” rating for the company. Finally, ValuEngine upgraded Cobalt International Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, June 21st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $204.95.
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Shares of Cobalt International Energy (NYSE:CIE) opened at 2.17 on Friday. The firm’s 50-day moving average price is $2.40 and its 200-day moving average price is $6.30. The company’s market capitalization is $64.12 million. Cobalt International Energy has a 12 month low of $1.82 and a 12 month high of $22.35.
Cobalt International Energy (NYSE:CIE) last issued its earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share for the quarter, missing the Zacks’ 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%.
In related 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 value of $48,519.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.84% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Cobalt International Energy during the fourth quarter worth about $1,888,000. Cobalt Capital Management Inc. bought a new position in Cobalt International Energy during the first quarter worth about $325,000. Proxima Capital Management LLC raised 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 worth $2,560,000 after buying an additional 375,000 shares during the period. SG Americas Securities LLC bought a new position in Cobalt International Energy during the first quarter worth about $160,000. Finally, Bank of Montreal Can raised 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 worth $160,000 after buying an additional 300,000 shares during the period.
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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