Price Target Update on Cobalt International Energy (NYSE:CIE)

Cobalt International Energy (NYSE:CIE) stock is expected to deviate a maximum of $2.84 from the average target price of $6.42 for the short term period. 6 Street Experts have initiated coverage on the stock with the most promising target being $11 and the most muted being $3.

Other Equity analysts have also commented 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.

Cobalt International Energy (NYSE:CIE): stock turned positive on Thursday. Though the stock opened at $1.91, the bulls momentum made the stock top out at $1.98 level for the day. The stock recorded a low of $1.9 and closed the trading day at $1.93, in the green by 2.12%. The total traded volume for the day was 4,866,956. The stock had closed at $1.89 in the previous days trading.

The company shares have dropped -81.69% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $10.51 and the one year low was seen on Jun 22, 2016. The 50-Day Moving Average price is $2.36 and the 200 Day Moving Average price is recorded at $3.32. 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.

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.

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