Is Buying Cobalt International Energy Incorporated (NYSE:CIE), Having Lower Short Interest a Winning Strategy?

September 17, 2017 - By Peter Erickson

 Is Buying Cobalt International Energy Incorporated (NYSE:CIE), Having Lower Short Interest a Winning Strategy?

Investors sentiment increased to 0.9 in 2016 Q4. Its up 0.07, from 0.83 in 2016Q3. It increased, as 23 investors sold Cobalt International Energy, Inc. shares while 45 reduced holdings. 23 funds opened positions while 38 raised stakes. 455.01 million shares or 0.88% more from 451.04 million shares in 2016Q3 were reported.
Salient Capital Llc holds 0% or 25,000 shares in its portfolio. Balyasny Asset Mgmt Limited Liability stated it has 0% of its portfolio in Cobalt International Energy, Inc. (NYSE:CIE). Berkley W R holds 0.06% in Cobalt International Energy, Inc. (NYSE:CIE) or 275,404 shares. Goldman Sachs Gp reported 0% in Cobalt International Energy, Inc. (NYSE:CIE). Manufacturers Life Insur The has 0% invested in Cobalt International Energy, Inc. (NYSE:CIE) for 287,456 shares. Cubist Systematic Strategies Llc holds 0% or 10,239 shares. Essex Invest Mgmt Lc owns 0.01% invested in Cobalt International Energy, Inc. (NYSE:CIE) for 33,851 shares. Retirement Systems Of Alabama stated it has 0% in Cobalt International Energy, Inc. (NYSE:CIE). Pomelo Cap Llc owns 1.27 million shares or 0.07% of their US portfolio. Indexiq Advsrs Ltd stated it has 14,165 shares. Aperio Gru Ltd Limited Liability Company reported 0% stake. Wellington Mngmt Grp Inc Llp reported 38.98M shares. Bancorporation Of Ny Mellon stated it has 0% in Cobalt International Energy, Inc. (NYSE:CIE). 214,297 were accumulated by Blackrock Grp Inc Ltd. Massachusetts-based Fmr Ltd Company has invested 0% in Cobalt International Energy, Inc. (NYSE:CIE).

The stock of Cobalt International Energy Incorporated (NYSE:CIE) registered a decrease of 4.4% in short interest. CIE’s total short interest was 4.39M shares in September as published by FINRA. Its down 4.4% from 4.59M shares, reported previously. With 420,000 shares average volume, it will take short sellers 10 days to cover their CIE’s short positions.

The stock increased 0.58% or $0.01 on September 15, reaching $1.73. About 703,505 shares traded or 57.07% up from the average. Cobalt International Energy, Inc. (NYSE:CIE) has declined 88.67% since September 17, 2016 and is downtrending. It has underperformed by 105.37% the S&P500.

Cobalt International Energy, Inc. is an independent exploration and production company. The company has market cap of $51.71 million. The Firm has its activities focused in the deepwater United States Gulf of Mexico. It currently has negative earnings. The Firm also has a non-operated interest in the Diaba Block offshore Gabon in West Africa.

Cobalt International Energy, Inc. (NYSE:CIE) Ratings Coverage

Among 7 analysts covering Cobalt International Energy (NYSE:CIE), 2 have Buy rating, 0 Sell and 5 Hold. Therefore 29% are positive. Cobalt International Energy had 13 analyst reports since August 25, 2015 according to SRatingsIntel. Tudor Pickering upgraded the stock to “Buy” rating in Thursday, August 18 report. The stock has “Neutral” rating by Citigroup on Thursday, April 7. The rating was maintained by Deutsche Bank on Tuesday, March 29 with “Buy”. The company was downgraded on Friday, May 5 by Bernstein. Tudor Pickering upgraded Cobalt International Energy, Inc. (NYSE:CIE) on Tuesday, January 26 to “Buy” rating. Deutsche Bank maintained the shares of CIE in report on Tuesday, August 25 with “Buy” rating. The stock of Cobalt International Energy, Inc. (NYSE:CIE) has “Sector Perform” rating given on Tuesday, February 23 by RBC Capital Markets. The stock of Cobalt International Energy, Inc. (NYSE:CIE) earned “Hold” rating by Stifel Nicolaus on Wednesday, February 3. As per Thursday, April 21, the company rating was downgraded by Tudor Pickering. The stock of Cobalt International Energy, Inc. (NYSE:CIE) earned “Neutral” rating by Credit Suisse on Tuesday, February 23.

More notable recent Cobalt International Energy, Inc. (NYSE:CIE) news were published by: Seekingalpha.com which released: “The Light At The End Of The Tunnel For Risky Cobalt International Energy” on April 03, 2017, also Fool.com with their article: “Cobalt International Energy, Inc. Continued to Plunge In January” published on February 10, 2017, Seekingalpha.com published: “Cobalt International Energy’s (CIE) CEO Tim Cutt Q2 2017 Results – Earnings …” on August 09, 2017. More interesting news about Cobalt International Energy, Inc. (NYSE:CIE) were released by: Seekingalpha.com and their article: “Cobalt International Energy – Risky, But Not Hopeless” published on January 09, 2017 as well as Bizjournals.com‘s news article titled: “Update: Cobalt International Energy revises date for reverse stock split” with publication date: June 13, 2017.

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