Cobalt International Energy Shares Popped Again: What You Need to Know (CIE)

Cobalt International Energy Shares Popped Again: What You Need to Know

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Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Cobalt International Energy (NYSE: CIE ) jumped 10% again today in a brief-lived rally based on an analyst's upgrade.

So what: Goldman Sachs (NYSE: GS ) gave Cobalt a bit of a boost this morning when it put the company on its Americas Buy List. This came a day after the company was awarded a block to drill in Angola's waters.

Now what: I love the irony of adding Cobalt to the Americas Buy List after it was awarded a contract to drill off the coast of Africa, but that's what Goldman did. The rally didn't last long this morning because investors already knew of the Angola news and had priced in the news yesterday. Still, it's nice to get affirmation from a big investment house that your stocks are loved, and I reiterate my position that this could be a long-term catalyst for the company going forward.

Interested in more info on Cobalt International Energy? Add it to your watchlist by clicking here.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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Report this Comment On December 21, 2011, at 3:01 PM, fiesta0923 wrote:

A nice couple of days ... FINALLY ... from $CIE
Report this Comment On December 21, 2011, at 3:22 PM, EnigmaDude wrote:

Don't you think that Goldman's interest in upgrading CIE might be a bit self-serving, given the fact that they own 20% of the shares?

updated 8 hours ago Sponsored by:
	DOW	15,307.17	-80.41	-0.52%
	S&P 500	1,655.35	-13.81	-0.83%
	NASD	3,463.30	-38.82	-1.11%

CIE	$26.76		-0.84	-3.04%
Cobalt Internation…		CAPS Rating:

GS	$159.34		-1.39	-0.86%
Goldman Sachs		CAPS Rating:

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Cobalt International Energy Shares Popped Again: What You Need to Know

Don't let it get away!

Comments from our Foolish Readers

Report this Comment On December 21, 2011, at 3:01 PM, fiesta0923 wrote:

Report this Comment On December 21, 2011, at 3:22 PM, EnigmaDude wrote:

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