It is trading at $2.33 a tad under $3.56, the 50 day moving average and just below the 200 day moving average of $9.34. The 50 day moving average was down by -37.33% and the 200 day average went down $-7.11 or -76.12%. (NYSE:CIE) shares saw light trading volume with 411K shares changing hands by the end of trading on Wednesday. Volume was down 90.52% under the stocks average daily volume.
Here is the rundown on market activity for Cobalt International Energy, In (NYSE:CIE). Timothy J. Cutt, CEO reported the sale of 20,735 shares of (CIE). The shares were purchased at an average price of $2.34. Cutt now owns $432,753 of the stock per the Form 4 SEC filing. James H. Painter, President-Explr. and Appraisal disclosed the sale of 21,534 shares. The shares were sold on December 30th for an average price of $1.24. The President-Explr. and Appraisal now owns $1,609,743 of the stock according to the SEC filing.
Van P. Whitfield, Director disclosed the sale of 413,084 shares of CIE stock. The shares were purchased at an average price of $1.37. Whitfield now owns $15,647 of the stock per the Form 4 SEC filing.
Here are a few other firms who have also updated their positions. As of the end of the quarter Symphony Asset Management LLC had bought a total of 2,168 shares growing its stake by 0.2%. The value of the company’s investment in Cobalt International Energy, In increased from $528,000 to $1,211,000 a change of 129.4% quarter to quarter. Morgan Stanley reduced its stake by shedding 115 shares a decrease of 0.7% from 12/31/2016 to 03/31/2017. Morgan Stanley controls 17,100 shares with a value of $9,000. The value of the position overall is down by 57.1%.
Tower Research Capital LLC (trc) grew its position by buying 41,335 shares an increase of 592.8% in the quarter. Tower Research Capital LLC (trc) now holds 48,308 shares valued at $26,000. The total value of its holdings increased 188.9%. Goldman Sachs Group Inc downsized its holdings by shedding 1,166,571 shares a decrease of 87.7%. Goldman Sachs Group Inc now controls 163,095 shares worth $87,000. The total value of its holdings decreased 94.6%.
On August 18 the company was upgraded from “Hold” to “Buy” in a report from Tudor Pickering. On April 21 the stock rating was downgraded to “Hold” from “Buy” in a statement from Tudor Pickering.
April 7 investment analysts at Citigroup maintained a stock rating of “Neutral” but lowered the price target from $6.00 to $3.00. On March 29 Deutsche Bank made no change to the company rating of “Buy” but moved down the price target to $11.00 from $14.00.
February 23 investment analysts at RBC Capital held the company rating at “Sector Perform” and moved down the price target from $7.00 to $6.00. On February 23 Credit Suisse kept the company rating at “Neutral” and raised the price expectation from $7.00 to $8.00.
In the market the company is trading up from yesterday’s close of $2.24. As of the latest earnings report the EPS was $-92.92 and is expected to be $-9.10 for the current year with 29,515,000 shares outstanding. Analysts expect next quarter’s EPS will be $-1.42 and the next full year EPS is projected to be $-10.81.
Cobalt International Energy, Inc., launched on August 27, 2009, 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 Business’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. The Heidelberg field commenced its production and the North Platte, Shenandoah and Anchor field are in various stages of appraisal and development. The Company has drilled nine exploratory wells, three appraisal wells and four development wells (one of, which was drilled to be used as a pressure-maintenance well in the Cameia development) in the northern pre-salt Kwanza Basin offshore Angola, and one exploratory well in the pre-salt deepwater region offshore Gabon..