Cobalt International Energy, Inc. (NYSE:CIE) dropped 9.1% during trading on Thursday . The stock traded as low as $0.50 and last traded at $0.50. Approximately 7,378,551 shares were traded during mid-day trading, an increase of 967% from the average daily volume of 691,277 shares. The stock had previously closed at $0.55.

A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Cobalt International Energy from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Citigroup reiterated a “sell” rating on shares of Cobalt International Energy in a research report on Monday, November 6th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Cobalt International Energy presently has a consensus rating of “Hold” and a consensus price target of $90.67.

The company has a debt-to-equity ratio of -1.70, a current ratio of 1.61 and a quick ratio of 1.61.

A number of institutional investors and hedge funds have recently modified their holdings of the business. KCG Holdings Inc. raised its holdings 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 acquiring an additional 173,550 shares in the last quarter. American International Group Inc. raised its holdings in 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 purchasing an additional 16,490 shares in the last quarter. OZ Management LP purchased a new stake in shares of Cobalt International Energy in the second quarter worth $150,000. Metropolitan Life Insurance Co. NY grew 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 acquiring an additional 3,501 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Cobalt International Energy in the second quarter worth $170,000. 72.08% of the stock is owned by institutional investors and hedge funds.

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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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