Kosmos Energy (NYSE:KOS) Shares Gap Down – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $3.09, but opened at $2.98. Kosmos Energy shares last traded at $2.97, with a volume of 1,227,501 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KOS shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kosmos Energy in a report on Monday, August 3rd. Wall Street Zen upgraded shares of Kosmos Energy from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 5th. Royal Bank Of Canada cut Kosmos Energy to a “neutral” rating in a research report on Wednesday, May 27th. Mizuho upgraded shares of Kosmos Energy to a “strong sell” rating in a report on Friday, July 31st. Finally, Stephens decreased their price target on shares of Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating on the stock in a research report on Tuesday, July 21st. 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 company. According to MarketBeat.com, Kosmos Energy currently has an average rating of “Reduce” and an average price target of $2.53.

Kosmos Energy Price Performance

The stock has a market capitalization of $1.69 billion, a PE ratio of -2.39, a P/E/G ratio of 0.19 and a beta of 0.73. The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 3.58. The stock’s 50-day moving average is $2.65 and its 200 day moving average is $2.67.

Kosmos Energy (NYSE:KOS) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $607.25 million for the quarter, compared to analyst estimates of $483.23 million. Kosmos Energy had a negative net margin of 33.98% and a negative return on equity of 17.73%. As a group, equities analysts predict that Kosmos Energy Ltd. will post 0.51 earnings per share for the current year.

Insider Activity at Kosmos Energy

In other Kosmos Energy news, SVP Josh R. Marion sold 24,969 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $2.05, for a total value of $51,186.45. Following the completion of the sale, the senior vice president owned 233,404 shares of the company’s stock, valued at $478,478.20. The trade was a 9.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, CFO Nealesh D. Shah sold 45,980 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $2.05, for a total value of $94,259.00. Following the sale, the chief financial officer owned 1,935,410 shares of the company’s stock, valued at approximately $3,967,590.50. This trade represents a 2.32% decrease in their position. The SEC filing for this sale provides additional information. 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 90 days, insiders sold 169,012 shares of company stock valued at $346,475. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Kosmos Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in KOS. Equinox Partners Investment Management LLC boosted its position in shares of 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. First Trust Advisors LP grew its stake in shares of Kosmos Energy by 9.2% in the first quarter. First Trust Advisors LP now owns 7,694,248 shares of the oil and gas producer’s stock worth $21,390,000 after acquiring an additional 646,052 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Kosmos Energy by 20.5% during 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 acquiring an additional 1,204,789 shares during the period. Bank of America Corp DE increased its position in Kosmos Energy by 14.2% during 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. Finally, Renaissance Technologies LLC raised its stake in Kosmos Energy by 224.0% during the 1st quarter. Renaissance Technologies LLC now owns 5,339,638 shares of the oil and gas producer’s stock valued at $14,844,000 after purchasing an additional 3,691,800 shares during the last quarter. 95.33% of the stock is currently owned by institutional investors and hedge funds.

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.