Cobalt International Energy, Inc (NYSE:CIE) moved up after it found oil at a second well off the coast of Angola. Cobalt International Energy is the offshore oil explorer supported by Goldman Sachs Group, Inc (NYSE:GS).
Shares of the company surged 3.9% to settle in New York at $25.08. Earlier the company’s stock surged almost 19% and marked biggest intraday gain since Feb 10.
Cobalt International Energy announced a net loss of $141 million or 35 cents per share for the second quarter, evaluated against a net loss of $19 million in the similar period in previous year.
The company reported in a statement that the loss comprised a write-off of $99 million in costs linked with 2 unsuccessful exploratory wells in the Gulf of Mexico.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. ATP Oil & Gas Corporation (NASDAQ:ATPG) fell -3.97% to settle at $1.45, Contango Oil & Gas Company (NYSEAMEX: MCF) moved up +0.42% to end at $59.25 while W&T Offshore, Inc (NYSE:WTI) jumped +12.33% to finish on Tuesday at $18.49.
Cobalt International Energy, Inc (NYSE:CIE) on July 31, 2012 increased 3.93% to the closing price of $25.10. The overall volume in the last trading session was 9.25 million shares. Its fifty two week range was $6.30-$36.51. The total market capitalization remained $10.19 billion.
CIE is ahead its 52 week low with +298.14% and lagging behind from its 52 week high price with -31.25%. CIE last month stock price volatility remained 4.34%. In its share capital CIE has 410.69 million outstanding shares among them 399.71 million shares have been floated in market exchange. CIE stock insider ownership included 2.41%.
The stock price of CIE is moving forward from its 20 days moving average with +3.89% and remote positively from 50 days moving average with +10.00%. CIE current year earnings per share experienced an addition with 9.17% while its current quarter performance remained -2.18%.
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