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 Video: What is a Stock Split?
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| Cobalt International Energy is an independent exploration and production company with operations in the deepwater U.S. Gulf of Mexico and offshore Angola and Gabon in West Africa. In the U.S. Gulf of Mexico, Co. has four discoveries: North Platte, Shenandoah, Anchor and Heidelberg. In West Africa, Co. has made seven aggregate discoveries offshore Angola on Blocks 20 (Orca, Zalophus, Golfinho and Lontra) and 21 (Cameia, Bicuar and Mavinga). Co. also has a non–operated interest in the Diaba block offshore Gabon. As of Dec 31 2016, Co. had estimated net proved reserves of 3.0 million barrels of oil, 1.20 billion cubic feet of natural gas, and 0.1 million barrels of natural gas liquids. According to our CIE split history records, CIE has had 1 split. | |
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CIE (CIE) has 1 split in our CIE split history database. The split for CIE took place on June 19, 2017. This was a 1 for 15 reverse split, meaning for each 15 shares of CIE owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 66.6666666666667 share position following the split.
When a company such as CIE conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.
Looking at the CIE split history from start to finish, an original position size of 1000 shares would have turned into 66.6666666666667 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into CIE shares, starting with a $10,000 purchase of CIE, presented on a split-history-adjusted basis factoring in the complete CIE split history.
Growth of $10,000.00
Without Dividends Reinvested
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| Start date: |
10/09/2014 |
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| End date: |
12/14/2017 |
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| Start price/share: |
$174.90 |
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| End price/share: |
$0.38 |
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| Dividends collected/share: |
$0.00 |
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| Total return: |
-99.78% |
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| Average Annual Total Return: |
-85.43% |
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| Starting investment: |
$10,000.00 |
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| Ending investment: |
$21.72 |
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| Years: |
3.18 |
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| Date |
Ratio |
| 06/19/2017 | 1 for 15 |
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