Kosmos Energy (NYSE:KOS) Shares Up 4.1% – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS) was up 4.1% during mid-day trading on Tuesday . The stock traded as high as $3.06 and last traded at $3.04. 1,607,821 shares traded hands during trading, a decline of 92% from the average session volume of 19,068,564 shares. The stock had previously closed at $2.92.

Analyst Ratings Changes

Several brokerages have commented on KOS. Weiss Ratings restated a “sell (d-)” rating on shares of Kosmos Energy in a report on Monday, August 3rd. Mizuho upgraded Kosmos Energy to a “strong sell” rating in a report on Friday, July 31st. Wall Street Zen raised Kosmos Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Stephens lowered their target price on Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. Finally, Royal Bank Of Canada lowered Kosmos Energy to a “neutral” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $2.53.

Kosmos Energy Stock Down 6.8%

The company has a debt-to-equity ratio of 3.58, a current ratio of 0.59 and a quick ratio of 0.38. The stock has a 50 day simple moving average of $2.64 and a 200-day simple moving average of $2.67. The firm has a market cap of $1.72 billion, a PE ratio of -2.42, a PEG ratio of 0.20 and a beta of 0.73.

Kosmos Energy (NYSE:KOS) last released its earnings results on Monday, August 3rd. The oil and gas producer reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm had revenue of $607.25 million for the quarter, compared to analysts’ expectations of $483.23 million. Kosmos Energy had a negative return on equity of 17.73% and a negative net margin of 33.98%. Sell-side analysts predict that Kosmos Energy Ltd. will post 0.51 EPS for the current fiscal year.

Insider Activity at Kosmos Energy

In other Kosmos Energy news, SVP Josh Marion sold 24,969 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total transaction of $51,186.45. Following the completion of the sale, the senior vice president directly owned 233,404 shares in the company, valued at approximately $478,478.20. This trade represents a 9.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Andrew Inglis sold 85,935 shares of Kosmos Energy stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $2.05, for a total transaction of $176,166.75. Following the completion of the transaction, the chief executive officer directly owned 4,678,043 shares of the company’s stock, valued at $9,589,988.15. This trade represents a 1.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 169,012 shares of company stock valued at $346,475. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Kosmos Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KOS. Bank of America Corp DE grew its stake in shares of Kosmos Energy by 14.2% in the first quarter. Bank of America Corp DE now owns 5,541,020 shares of the oil and gas producer’s stock worth $15,404,000 after acquiring an additional 689,800 shares during the period. Banco Santander S.A. lifted its position in Kosmos Energy by 321.9% during the second quarter. Banco Santander S.A. now owns 525,378 shares of the oil and gas producer’s stock valued at $1,109,000 after purchasing an additional 400,842 shares during the period. Equinox Partners Investment Management LLC lifted its position in Kosmos Energy by 6.2% during the first quarter. Equinox Partners Investment Management LLC now owns 20,678,033 shares of the oil and gas producer’s stock valued at $57,485,000 after purchasing an additional 1,208,053 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Kosmos Energy by 20.5% in the first quarter. Dimensional Fund Advisors LP now owns 7,083,075 shares of the oil and gas producer’s stock worth $19,699,000 after purchasing an additional 1,204,789 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Kosmos Energy by 813.3% in the second quarter. Squarepoint Ops LLC now owns 1,376,536 shares of the oil and gas producer’s stock worth $2,904,000 after purchasing an additional 1,225,813 shares during the last quarter. 95.33% of the stock is owned by institutional investors.

Kosmos Energy Company Profile

Kosmos Energy Ltd. is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company focuses on finding, developing and producing oil and natural gas resources, with an emphasis on offshore assets in emerging and established energy regions.

Kosmos has historically concentrated its operations along the Atlantic margins of West Africa, including interests in Ghana, Equatorial Guinea and the waters offshore Mauritania and Senegal. Its activities have included exploration, field development and production of crude oil and natural gas, as well as participation in projects designed to supply natural gas for liquefied natural gas (LNG) production and domestic markets.

Founded in 2003, Kosmos was involved in the discovery and development of major petroleum resources offshore Ghana, including the Jubilee and TEN fields.