Cobalt International Energy (CIE) : 3 brokerage houses believe that Cobalt International Energy (CIE) is a Strong Buy at current levels. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Cobalt International Energy (CIE). Zacks Investment Research suggests a Hold with a rank of 3.The median of all the 8 Wall Street Analysts endorse the stock as a Buy with a rating of 2.25.
Cobalt International Energy (CIE) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $11 and the lowest price target forecast is $3. The average forecast of all the analysts is $6.42 and the expected standard deviation is $2.84.
Cobalt International Energy (NYSE:CIE): The stock opened at $1.27 on Wednesday but the bulls could not build on the opening and the stock topped out at $1.29 for the day. The stock traded down to $1.16 during the day, due to lack of any buying support eventually closed down at $1.19 with a loss of -7.75% for the day. The stock had closed at $1.29 on the previous day. The total traded volume was 9,008,534 shares.
Also, Brokerage firm Citigroup maintains its rating on Cobalt International Energy (NYSE:CIE). As per the latest information, the brokerage house lowers the price target to $3 per share from a prior target of $6. The shares have been rated Neutral. The rating by the firm was issued on April 7, 2016. The company shares have dropped -85.67% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $9.52 and the one year low was seen on Jul 5, 2016. The 50-Day Moving Average price is $2.06 and the 200 Day Moving Average price is recorded at $2.99.
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 Companys 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.