Cobalt International Energy, Inc. (CIE) Announces Earnings Results, Misses Estimates By $0.02 EPS

Cobalt International Energy, Inc. (NYSE:CIE) announced its quarterly earnings data on Monday. The energy producer reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by $0.02. The business had revenue of $9.87 million for the quarter, compared to analyst estimates of $14.10 million.

Earnings History for Cobalt International Energy (NYSE:CIE)

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A number of hedge funds have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. boosted its stake in shares of Cobalt International Energy by 58.0% in the third quarter. Adage Capital Partners GP L.L.C. now owns 5,329,393 shares of the energy producer’s stock valued at $6,608,000 after buying an additional 1,956,500 shares during the last quarter. Proxima Capital Management LLC boosted its stake in shares of Cobalt International Energy by 8.5% in the first quarter. Proxima Capital Management LLC now owns 4,800,000 shares of the energy producer’s stock valued at $2,560,000 after buying an additional 375,000 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Cobalt International Energy by 5.4% in the first quarter. Bank of New York Mellon Corp now owns 2,104,313 shares of the energy producer’s stock valued at $1,123,000 after buying an additional 107,589 shares during the last quarter. Norges Bank bought a new stake in shares of Cobalt International Energy during the fourth quarter valued at about $1,888,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Cobalt International Energy by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 1,471,488 shares of the energy producer’s stock valued at $785,000 after buying an additional 141,822 shares during the last quarter.

CIE has been the topic of several research reports. Zacks Investment Research raised shares of Cobalt International Energy from a “hold” rating to a “buy” rating and set a $1.00 price objective on the stock in a research report on Tuesday, February 7th. Citigroup Inc lowered their price target on shares of Cobalt International Energy from $1.00 to $0.50 and set a “neutral” rating on the stock in a research report on Monday, March 27th. Finally, Sanford C. Bernstein lowered shares of Cobalt International Energy from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $2.00 to $1.20 in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Cobalt International Energy has a consensus rating of “Hold” and a consensus target price of $1.34.

Cobalt International Energy Company Profile

Cobalt International Energy, Inc 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 Company’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.

12 Month Chart for NYSE:CIE

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