Cobalt International Energy Inc. (CIE) Short Interest Update
Cobalt International Energy Inc. (NYSE:CIE) saw a large increase in short interest in August. As of August 31st, there was short interest totalling 59,948,877 shares, an increase of 6.0% from the August 15th total of 56,580,432 shares. Currently, 18.2% of the company’s stock are sold short. Based on an average trading volume of 6,772,798 shares, the short-interest ratio is currently 8.9 days.
Cobalt International Energy (NYSE:CIE) opened at 0.9185 on Friday. The stock’s market capitalization is $376.63 million. Cobalt International Energy has a 52-week low of $0.77 and a 52-week high of $9.43. The firm’s 50-day moving average is $1.19 and its 200-day moving average is $2.18.
Cobalt International Energy (NYSE:CIE) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.38. The business had revenue of $3.17 million for the quarter, compared to the consensus estimate of $4.98 million. During the same quarter in the previous year, the business earned ($0.16) EPS. Analysts predict that Cobalt International Energy will post ($0.35) earnings per share for the current year.
Several research analysts have issued reports on CIE shares. Citigroup Inc. dropped their target price on shares of Cobalt International Energy from $3.00 to $1.00 and set a “neutral” rating on the stock in a report on Monday, August 8th. Deutsche Bank AG lowered their price target on shares of Cobalt International Energy from $7.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, August 3rd. Finally, Tudor Pickering upgraded shares of Cobalt International Energy from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $4.04.
In other Cobalt International Energy news, CEO Timothy J. Cutt bought 100,000 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were bought at an average cost of $1.00 per share, for a total transaction of $100,000.00. Following the acquisition, the chief executive officer now directly owns 3,085,074 shares in the company, valued at $3,085,074. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.
A number of hedge funds have recently modified their holdings of CIE. Prudential PLC raised its stake in shares of Cobalt International Energy by 9.3% in the first quarter. Prudential PLC now owns 2,624,739 shares of the company’s stock worth $7,795,000 after buying an additional 223,911 shares during the period. Norges Bank purchased a new stake in Cobalt International Energy during the fourth quarter worth $11,346,000. Aperio Group LLC raised its stake in Cobalt International Energy by 77.8% in the first quarter. Aperio Group LLC now owns 90,163 shares of the company’s stock worth $268,000 after buying an additional 39,463 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in Cobalt International Energy during the second quarter worth $448,000. Finally, Societe Generale purchased a new stake in Cobalt International Energy during the second quarter worth $448,000.
About Cobalt International Energy
Cobalt International Energy Inc is an independent exploration and production company with operations focused in the deepwater the United States Gulf of Mexico. The Company operates through the United States segment. The Company has over four oil and gas discoveries, including the North Platte, Shenandoah, Anchor and Heidelberg fields.
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