Shares of Kosmos Energy Ltd. (NYSE:KOS – Get Free Report) traded down 6.6% on Thursday . The company traded as low as $2.14 and last traded at $2.14. 4,840,534 shares traded hands during trading, a decline of 77% from the average daily volume of 21,011,928 shares. The stock had previously closed at $2.29.
Wall Street Analysts Forecast Growth
Several research firms have commented on KOS. Wall Street Zen raised Kosmos Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Royal Bank Of Canada downgraded Kosmos Energy to a “neutral” rating in a report on Wednesday, May 27th. Mizuho reaffirmed an “underperform” rating and issued a $3.00 price target (up from $2.00) on shares of Kosmos Energy in a research report on Wednesday, May 27th. Johnson Rice upgraded shares of Kosmos Energy from an “accumulate” rating to a “buy” rating and set a $4.25 price target on the stock in a research note on Wednesday, March 25th. Finally, Weiss Ratings downgraded shares of Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $2.44.
Kosmos Energy Trading Down 3.7%
Kosmos Energy (NYSE:KOS – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.15). Kosmos Energy had a negative net margin of 59.38% and a negative return on equity of 37.60%. The business had revenue of $370.73 million for the quarter, compared to the consensus estimate of $405.21 million. On average, research analysts expect that Kosmos Energy Ltd. will post 0.29 earnings per share for the current fiscal year.
Insider Activity
In other Kosmos Energy news, Director Steven Sterin sold 38,636 shares of Kosmos Energy 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 owned 331,295 shares of the company’s stock, valued at approximately $904,435.35. The trade was a 10.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Roy A. Franklin sold 43,466 shares of the business’s stock in a transaction on Thursday, May 28th. The shares were 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 disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 294,580 shares of company stock worth $689,275. 1.90% of the stock is owned by corporate insiders.
Institutional Trading of Kosmos Energy
Large investors have recently modified their holdings of the company. Equinox Partners Investment Management LLC lifted its holdings in Kosmos Energy by 6.2% in 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 acquiring an additional 1,208,053 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 valued at $23,772,000 after purchasing an additional 286,593 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of 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 during the last quarter. Geode Capital Management LLC increased its position in shares of 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 during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of 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 worth $16,439,000 after purchasing an additional 289,626 shares during the period. Institutional investors 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 highâimpact offshore exploration opportunities.
The company’s portfolio is anchored by assets in West Africa and the Gulf of Mexico.
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