Stephens Lowers Kosmos Energy (NYSE:KOS) Price Target to $2.40

Kosmos Energy (NYSE:KOS) had its price target dropped by investment analysts at Stephens from $3.00 to $2.40 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas producer’s stock.

KOS has been the subject of several other reports. Weiss Ratings downgraded Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, May 6th. Mizuho restated an “underperform” rating and set a $3.00 price objective (up from $2.00) on shares of Kosmos Energy in a report on Wednesday, May 27th. The Goldman Sachs Group lowered shares of Kosmos Energy from a “neutral” rating to a “sell” rating and set a $2.25 price objective for the company. in a research note on Thursday, April 9th. Wall Street Zen upgraded shares of Kosmos Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada downgraded shares of 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $2.53.

Kosmos Energy Stock Performance

Shares of Kosmos Energy stock traded up $0.10 during trading on Tuesday, hitting $2.40. 5,782,688 shares of the stock were exchanged, compared to its average volume of 20,975,232. The stock’s fifty day moving average is $2.60 and its 200 day moving average is $2.29. Kosmos Energy has a 12 month low of $0.84 and a 12 month high of $3.34. The stock has a market cap of $1.42 billion, a PE ratio of -1.43, a P/E/G ratio of 0.26 and a beta of 0.71. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.36 and a current ratio of 0.60.

Kosmos Energy (NYSE:KOS) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.15). Kosmos Energy had a negative return on equity of 37.60% and a negative net margin of 59.38%.The business had revenue of $370.73 million during the quarter, compared to analyst estimates of $405.21 million. As a group, sell-side analysts anticipate that Kosmos Energy will post 0.29 EPS for the current year.

Insider Buying and Selling

In other news, Director Steven Sterin sold 38,636 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $2.73, for a total value of $105,476.28. Following the completion of the sale, the director directly owned 331,295 shares of the company’s stock, valued at $904,435.35. This represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roy A. Franklin sold 43,466 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $2.73, for a total transaction of $118,662.18. Following the sale, the director owned 150,722 shares of the company’s stock, valued at approximately $411,471.06. This represents a 22.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 294,580 shares of company stock worth $689,275 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kosmos Energy

Several hedge funds and other institutional investors have recently modified their holdings of KOS. Equinox Partners Investment Management LLC raised its holdings in Kosmos Energy by 6.2% in the 1st 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 acquiring an additional 1,208,053 shares in the last quarter. Vanguard Group Inc. grew its position in Kosmos Energy by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 14,320,597 shares of the oil and gas producer’s stock worth $23,772,000 after acquiring an additional 286,593 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kosmos Energy by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,045,593 shares of the oil and gas producer’s stock valued at $10,930,000 after purchasing an additional 1,962,936 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kosmos Energy by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 11,272,318 shares of the oil and gas producer’s stock valued at $10,230,000 after purchasing an additional 832,029 shares in the last quarter. Finally, Invesco Ltd. raised its position in Kosmos Energy by 3.0% in the 3rd quarter. Invesco Ltd. now owns 9,903,093 shares of the oil and gas producer’s stock valued at $16,439,000 after purchasing an additional 289,626 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

About Kosmos Energy

Kosmos Energy Ltd. is an independent oil and gas exploration and production company headquartered in Dallas, Texas. Since its founding in 2003, the company has focused on identifying and developing hydrocarbon reserves in frontier and emerging basins around the world. Kosmos combines geological and geophysical expertise with a disciplined approach to acreage acquisition and partner selection to pursue high?impact offshore exploration opportunities.

The company’s portfolio is anchored by assets in West Africa and the Gulf of Mexico.