Cobalt International Energy (CIE) Shares are Up 42.02%

Cobalt International Energy (CIE) has been under a strong bear grip, hence the stock is down -15.07% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 42.06% in the past 1 week. The stock has risen by 42.02% in the past week indicating that the buyers are active at lower levels, but the stock is down -14.74% in the past 4 weeks.

Cobalt International Energy, Inc. has dropped 46.37% during the last 3-month period . Year-to-Date the stock performance stands at -75.37%. The stock has recorded a 20-day Moving Average of 14.9% and the 50-Day Moving Average is 9.59%.


Cobalt International Energy (NYSE:CIE): The stock opened at $1.33 on Friday but the bulls could not build on the opening and the stock topped out at $1.40 for the day. The stock traded down to $1.28 during the day, due to lack of any buying support eventually closed down at $1.33 with a loss of -0.75% for the day. The stock had closed at $1.34 on the previous day. The total traded volume was 7,907,270 shares.

Also, Equity Analysts at the Brokerage Firm, Tudor Pickering, upgrades their rating on the shares of Cobalt International Energy (NYSE:CIE). Tudor Pickering has a Buy rating on the shares. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on August 18, 2016.

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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