Analyst Rating Update on Cobalt International Energy (CIE)

Cobalt International Energy (CIE) : 8 analysts are covering Cobalt International Energy (CIE) and their average rating on the stock is 2.25, which is read as a Buy. 3 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Cobalt International Energy (CIE) : The highest short term price target forecast on Cobalt International Energy (CIE) is $8 and the lowest target price is $2. A total of 6 equity analysts are currently covering the company. The average price of all the analysts is $5.42 with a standard deviation of $2.06.

Company shares have received an average consensus rating of Hold for the current week


Cobalt International Energy (NYSE:CIE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $0.98 and $0.98 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.10. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.04, notching a gain of 6.23% for the day. The total traded volume was 13,568,637 . The stock had closed at $0.98 on the previous day.

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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