Cobalt International Energy, Inc. (NYSE:CIE)’s share price fell 47% on Friday . The company traded as low as $0.50 and last traded at $0.53. 1,649,503 shares traded hands during mid-day trading, an increase of 191% from the average session volume of 566,877 shares. The stock had previously closed at $1.00.

A number of research firms have recently weighed in on CIE. Zacks Investment Research raised Cobalt International Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Citigroup Inc. reaffirmed a “sell” rating and issued a $1.00 price objective (down previously from $1.50) on shares of Cobalt International Energy in a research note on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $143.94.

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of -1.87.

Cobalt International Energy (NYSE:CIE) last announced its quarterly earnings results on Tuesday, August 8th. The energy producer reported ($2.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.60) by ($0.79). Cobalt International Energy had a negative return on equity of 1,077.95% and a negative net margin of 5,488.60%. The company had revenue of $13.75 million for the quarter. sell-side analysts anticipate that Cobalt International Energy, Inc. will post -8.59 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in CIE. KCG Holdings Inc. grew its holdings in Cobalt International Energy by 314.6% during the first quarter. KCG Holdings Inc. now owns 228,718 shares of the energy producer’s stock worth $122,000 after buying an additional 173,550 shares in the last quarter. American International Group Inc. grew its holdings in Cobalt International Energy by 7.0% during the first quarter. American International Group Inc. now owns 251,195 shares of the energy producer’s stock worth $134,000 after buying an additional 16,490 shares in the last quarter. OZ Management LP bought a new stake in Cobalt International Energy during the second quarter worth $150,000. SG Americas Securities LLC bought a new stake in Cobalt International Energy during the first quarter worth $160,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in Cobalt International Energy by 1.2% during the first quarter. Metropolitan Life Insurance Co. NY now owns 303,916 shares of the energy producer’s stock worth $162,000 after buying an additional 3,501 shares in the last quarter. Institutional investors and hedge funds own 79.79% of the company’s stock.

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Cobalt International Energy Company Profile

Cobalt International Energy, Inc is an independent exploration and production company. The Company has its operations focused in the deepwater United States Gulf of Mexico. The Company also has a non-operated interest in the Diaba Block offshore Gabon in West Africa. The Company’s exploration efforts in the United States Gulf of Mexico has resulted in four oil and natural gas discoveries including the North Platte, Shenandoah, Anchor and Heidelberg fields.

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