Tudor Pickering Upgrades Cobalt International Energy to Buy

Brokerage firm Tudor Pickering Upgrades its rating on Cobalt International Energy(NYSE:CIE). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Tudor Pickering was issued on Aug 18, 2016.

In a different note, On Aug 8, 2016, Citigroup said it Maintains its rating on Cobalt International Energy. In the research note, the firm Lowers the price-target to $3.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 3, 2016, Deutsche Bank said it Maintains its rating on Cobalt International Energy. In the research note, the firm Lowers the price-target to $7.00 per share. The shares have been rated ‘Buy’ by the firm.

Cobalt International Energy (CIE) made into the market gainers list on Mondays trading session with the shares advancing 9.09% or 0.11 points. Due to strong positive momentum, the stock ended at $1.32, which is also near the day’s high of $1.32. The stock began the session at $1.2 and the volume stood at 39,86,549 shares. The 52-week high of the shares is $9.43 and the 52 week low is $0.7682. The company has a current market capitalization of $547 M and it has 41,41,54,630 shares in outstanding.

Cobalt International Energy(CIE) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.17M. Analysts had an estimated revenue of $4.98M. Earnings per share were $-0.12. Analysts had estimated an EPS of $-0.12.

Several Insider Transactions has been reported to the SEC. On Aug 17, 2016, David D. Powell (CFO) purchased 100,000 shares at $0.99 per share price.Also, On Aug 17, 2016, Timothy J. Cutt (CEO) purchased 100,000 shares at $1.00 per share price.On Feb 22, 2016, James H. Painter (Executive Vice President) sold 5,879 shares at $2.18 per share price, according to the Form-4 filing with the securities and exchange commission.

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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