Cobalt International Energy (CIE) was Upgraded by Tudor Pickering to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Tudor Pickering advised their investors in a research report released on Aug 18, 2016.
Many Wall Street Analysts have commented on Cobalt International Energy. Shares were Reiterated by Deutsche Bank on Aug 3, 2016 to “Buy” and Lowered the Price Target to $ 3 from a previous price target of $7 .
On the company’s financial health, Cobalt International Energy reported $-0.49 EPS for the quarter, missing the analyst consensus estimate by $ -0.38 based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus of $-0.11.Analysts expectations of $ 5.51.During the same quarter in the previous year, the company posted $-0.16 EPS.
Cobalt International Energy opened for trading at $0.9899 and hit $1.06 on the upside on Wednesday, eventually ending the session at $1.05, with a gain of 5.99% or 0.0593 points. The heightened volatility saw the trading volume jump to 42,37,795 shares. Company has a market cap of $435 M.
In a different news, on Aug 17, 2016, David D. Powell (CFO) purchased 100,000 shares at $0.99 per share price. According to the SEC, on Aug 17, 2016, Timothy J. Cutt (CEO) purchased 100,000 shares at $1.00 per share price. On Feb 22, 2016, James H. Painter (Executive Vice President) sold 5,879 shares at $2.18 per share price, according to the Form-4 filing with the securities and exchange commission.
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 Company’s 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.