Cobalt International Energy (CIE) : The highest level Cobalt International Energy (CIE) is projected to reach is $8 for the short term and the lowest estimate is at $3. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $5.75 and the possibility the share price can swing is $1.84.
The short interest in Cobalt International Energy (CIE) has increased from 36,909,299 on June 15,2016 to 50,711,178 on June 30,2016. The change was measured at 13,801,879 shares or 37.4%. The leftover shorts were 15.7% of the floated shares. The days to cover are 6, given the average daily volume of 8,624,391 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Citigroup maintains their rating on the shares of Cobalt International Energy (NYSE:CIE). The current rating of the shares is Neutral. Equity Analysts at the Firm lowers the price target to $3 per share from $6 per share. The rating by the firm was issued on April 7, 2016.
Cobalt International Energy (NYSE:CIE): On Thursdays trading session , Opening price of the stock was $1.69 with an intraday high of $1.69. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.56. However, the stock managed to close at $1.61, a loss of 4.73% for the day. On the previous day, the stock had closed at $1.69. The total traded volume of the day was 3,710,176 shares.
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.