Credit Suisse Reiterates a Hold Rating on Cobalt Intl.

By Jason Carr

In a report released yesterday, Edward Westlake from Credit Suisse reiterated a Hold rating on Cobalt Intl. (NYSE: CIE), with a price target of $1.35. The company’s shares opened today at $1.05, close to its 52-week low of $0.77.

According to TipRanks.com, Westlake is a 5-star analyst with an average return of 12.1% and a 65.6% success rate. Westlake covers the Basic Materials sector, focusing on stocks such as Calumet Specialty Products, Oil States International, and Continental Resources.

Cobalt Intl. has an analyst consensus of Moderate Buy, with a price target consensus of $1.35.

The company has a one year high of $9.06 and a one year low of $0.77. Currently, Cobalt Intl. has an average volume of 5.9M.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CIE in relation to earlier this year.

Cobalt International Energy, Inc. is an oil and gas exploration and production company. It focuses on the salt prospect inventory in the deepwater U.S. Gulf of Mexico. The company was founded by Samuel H. Gillespie on November 10, 2005 and is headquartered in Houston, TX.