Cobalt International Energy (CIE) Releases Earnings Results, Misses Expectations By $-0.38 EPS

Cobalt International Energy (CIE) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $-0.49 earnings per share for the quarter, missing the analyst consensus estimate by $-0.38. Analysts had a consensus of $-0.11. Analysts expectations of $5.51 million. During the same quarter in the previous year, the company posted $-0.16 EPS.

Cobalt International Energy opened for trading at $1.36 and hit $1.5 on the upside on Friday, eventually ending the session at $1.49, with a gain of 10.37% or 0.14 points. The heightened volatility saw the trading volume jump to 55,45,022 shares. Company has a market cap of $618 M.

In a different news, on Feb 22, 2016, James H. Painter (Executive Vice President) sold 5,879 shares at $2.18 per share price. According to the SEC, on Feb 22, 2016, Lynne L. Hackedorn (VP, Gov’t and Public Affairs) sold 2,255 shares at $2.18 per share price. On Feb 22, 2016, Van P. Whitfield (EVP, COO) sold 7,207 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.

Cobalt International Energy

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