Deutsche Bank Maintains Cobalt International Energy to Buy with Price Target $3.00

Brokerage firm Deutsche Bank Maintains its rating on Cobalt International Energy(NYSE:CIE). In a research note issued to the investors, the brokerage major Lowers the price-target to $3.00 per share. The shares have been rated Buy. The rating by Deutsche Bank was issued on Aug 3, 2016.

Cobalt International Energy (CIE) made into the market gainers list on Fridays trading session with the shares advancing 11.51% or 0.0967 points. Due to strong positive momentum, the stock ended at $0.9365, which is also near the day’s high of $0.9786. The stock began the session at $0.87 and the volume stood at 66,71,946 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 $388 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 Feb 22, 2016, James H. Painter (Executive Vice President) sold 5,879 shares at $2.18 per share price.Also, On Feb 22, 2016, Lynne L. Hackedorn (VP, Gov’t and Public Affairs) sold 2,255 shares at $2.18 per share price.On Feb 22, 2016, Van P. Whitfield (EVP, COO) sold 7,207 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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