Shares of Cobalt International Energy (CIE) Rally 7.48%

Cobalt International Energy (CIE) has been under a strong bear grip, hence the stock is down -21.97% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 5.9% in the past 1 week. The stock has risen by 7.48% in the past week indicating that the buyers are active at lower levels, but the stock is down -18.56% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 1.19% and the 50-Day Moving Average is 24.85%.

Cobalt International Energy (NYSE:CIE): The stock opened at $1.64 on Friday but the bulls could not build on the opening and the stock topped out at $1.65 for the day. The stock traded down to $1.54 during the day, due to lack of any buying support eventually closed down at $1.58 with a loss of -1.86% for the day. The stock had closed at $1.61 on the previous day. The total traded volume was 5,998,432 shares.


The company Insiders own 2.8% of Cobalt International Energy shares according to the proxy statements. During last six month period, the net percent change held by insiders has seen a change of -1.8%. In a related news, The Securities and Exchange Commission has divulged that Painter James H., officer (Executive Vice President) of Cobalt International Energy, Inc., had unloaded 5,879 shares at an average price of $2.18 in a transaction dated on February 19, 2016. The total value of the transaction was worth $12,816.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *