Cobalt International Energy, Inc. (CIE)’s Shares Continue To Rally Following Sale Of Offshore African Assets

Among the hedge funds that we track at Insider Monkey, John Paulson’s Paulson & Co. held the largest stake in Cobalt International Energy, Inc. (NYSE:CIE) at the end of the second quarter. Its position consisted of 41.75 million shares valued at $405.40 million. Israel Englander of Millennium Management was the second-largest stakeholder of the company, owning 10 million shares with a market value of $97.06 million. David E. Shaw’s D. E. Shaw was on top of the list of hedge funds making additional purchases in Cobalt International, as the investment firm increased its stake in the oil and gas company by approximately 87% to 1.13 million shares valued at $11.01 million.

Some hedge funds disposed of their stakes in Cobalt International Energy, Inc. (NYSE:CIE) during the second quarter. Highbridge Capital Management, led by Glenn Russell Dubin, was one of them, selling out its entire stake which had been comprised of 1.10 million shares on March 31. Cliff Asness’ AQR Capital Management also disposed of its stake in the exploration company during the second quarter.

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