Pomelo Capital buys $1,187,273 stake in Cobalt International Energy (CIE)

Cobalt International Energy (CIE) : Pomelo Capital scooped up 300,000 additional shares in Cobalt International Energy during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 1,267,100 shares of Cobalt International Energy which is valued at $1,187,273.Cobalt International Energy makes up approximately 1.35% of Pomelo Capital’s portfolio.

Other Hedge Funds, Including , Indexiq Advisors boosted its stake in CIE in the latest quarter, The investment management firm added 877 additional shares and now holds a total of 14,289 shares of Cobalt International Energy which is valued at $13,389. Mizuho Asset Managementltd. sold out all of its stake in CIE during the most recent quarter. The investment firm sold 2,642 shares of CIE which is valued $2,476.Ubs Asset Management Americas Inc boosted its stake in CIE in the latest quarter, The investment management firm added 871,659 additional shares and now holds a total of 6,035,651 shares of Cobalt International Energy which is valued at $5,069,947. Cobalt International Energy makes up approx 0.01% of Ubs Asset Management Americas Inc’s portfolio.I.g. Investment Management Ltd. boosted its stake in CIE in the latest quarter, The investment management firm added 750,000 additional shares and now holds a total of 1,750,000 shares of Cobalt International Energy which is valued at $1,820,000. Cobalt International Energy makes up approx 0.01% of I.g. Investment Management Ltd.’s portfolio. Simplex Trading added CIE to its portfolio by purchasing 16,573 company shares during the most recent quarter which is valued at $26,351.

Cobalt International Energy opened for trading at $1.3 and hit $1.4 on the upside on Tuesday, eventually ending the session at $1.32, with a gain of 0.76% or 0.01 points. The heightened volatility saw the trading volume jump to 67,85,438 shares. Company has a market cap of $547 M.

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.

Many Wall Street Analysts have commented on Cobalt International Energy. Cobalt International Energy was Upgraded by Tudor Pickering to ” Buy” on Aug 18, 2016. 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 .

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.

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