Kosmos Energy Ltd. (NYSE:KOS – Get Free Report) shares shot up 5.3% during mid-day trading on Thursday . The stock traded as high as $2.98 and last traded at $2.97. 5,256,989 shares changed hands during trading, a decline of 74% from the average daily volume of 19,858,928 shares. The stock had previously closed at $2.82.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Stephens reduced their target price on shares of Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating for the company in a research report on Tuesday, July 21st. Royal Bank Of Canada cut shares of Kosmos Energy to a “neutral” rating in a research note on Wednesday, May 27th. Mizuho upgraded shares of Kosmos Energy to a “strong sell” rating in a report on Friday, July 31st. Wall Street Zen upgraded Kosmos Energy from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Kosmos Energy in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $2.53.
Kosmos Energy Stock Performance
Kosmos Energy (NYSE:KOS – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. Kosmos Energy had a negative net margin of 33.98% and a negative return on equity of 17.73%. The firm had revenue of $607.25 million during the quarter, compared to analysts’ expectations of $483.23 million. On average, analysts expect that Kosmos Energy Ltd. will post 0.45 EPS for the current fiscal year.
Insider Buying and Selling at Kosmos Energy
In other 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 transaction of $105,476.28. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew G. Inglis sold 85,935 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total value of $176,166.75. Following the completion of the transaction, the chief executive officer owned 4,678,043 shares in the company, valued at $9,589,988.15. This 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. Over the last three months, insiders have sold 294,580 shares of company stock worth $689,275. Insiders own 1.90% of the company’s stock.
Institutional Investors Weigh In On Kosmos Energy
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new stake in shares of Kosmos Energy in the first quarter valued at $31,000. Caerus Investment Advisors LLC purchased a new position in Kosmos Energy during the 1st quarter valued at about $31,000. Pallas Capital Advisors LLC acquired a new position in Kosmos Energy in the 2nd quarter valued at about $25,000. Proficio Capital Partners LLC purchased a new stake in Kosmos Energy during the second quarter worth about $27,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Kosmos Energy during the second quarter worth about $27,000. 95.33% of the stock is owned by hedge funds and other institutional investors.
Kosmos Energy Company Profile
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.
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