Cobalt International Energy (NYSE:CIE) has tumbled 6.73% during the past week and has dropped 21.77% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.61%. Cobalt International Energy (NYSE:CIE) has underperformed the index by 22.49% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Cobalt International Energy (NYSE:CIE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.82 and $1.80 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.95. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.94, notching a gain of 8.99% for the day. The total traded volume was 5,292,697 . The stock had closed at $1.78 on the previous day.
The company shares have dropped -81.13% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $10.68 and the one year low was seen on Jun 16, 2016. The 50-Day Moving Average price is $2.47 and the 200 Day Moving Average price is recorded at $3.48.
On the companys insider trading activities, Painter James H., officer (Executive Vice President) of Cobalt International Energy, Inc., unloaded 5,879 shares at an average price of $2.18 on February 19, 2016. The total amount of the transaction was worth $12,816, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Cobalt International Energy (NYSE:CIE). Citigroup has a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $3 per share from a prior target of $6. The rating by the firm was issued on April 7, 2016. Currently the company Insiders own 2.8% of Cobalt International Energy shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of 2.85%.
Cobalt International Energy Inc. is an independent exploration and production company with operations in the deepwater the United States Gulf of Mexico and offshore Angola and Gabon in West Africa. The Company operates in two segments: the U.S. Gulf of Mexico and West Africa. The Company is focused on drilling exploration wells on its below-salt exploration portfolio, which has resulted in the ten discoveries. The Companys ten discoveries consist of North Platte, Heidelberg, Shenandoah and Anchor in the United States Gulf of Mexico; Cameia, Lontra, Mavinga, Bicuar and Orca offshore Angola; and Diaman offshore Gabon. In addition, it has interest in the Yucatan discovery in the United States Gulf of Mexico. With these discoveries, its focus areas include project appraisal and development, continued exploration and new ventures.