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

Shares of Kosmos Energy Ltd. (NYSE:KOS) gapped down prior to trading on Monday . The stock had previously closed at $2.87, but opened at $2.72. Kosmos Energy shares last traded at $2.62, with a volume of 2,168,907 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KOS shares. Wall Street Zen upgraded Kosmos Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Mizuho reissued an “underperform” rating and set a $3.00 target price (up from $2.00) on shares of Kosmos Energy in a research note on Wednesday, May 27th. Weiss Ratings lowered Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Royal Bank Of Canada lowered Kosmos Energy to a “neutral” rating in a research report on Wednesday, May 27th. Finally, Johnson Rice raised Kosmos Energy from an “accumulate” rating to a “buy” rating and set a $4.25 price target on the stock in a research report on Wednesday, March 25th. Two 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 stock currently has an average rating of “Reduce” and a consensus price target of $2.44.

Kosmos Energy Trading Up 0.8%

The company has a debt-to-equity ratio of 5.56, a current ratio of 0.60 and a quick ratio of 0.36. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -1.49, a price-to-earnings-growth ratio of 0.38 and a beta of 0.68. The business’s 50 day simple moving average is $2.86 and its 200 day simple moving average is $2.08.

Kosmos Energy (NYSE:KOS) last posted its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.15). The business had revenue of $370.73 million during the quarter, compared to analyst estimates of $405.21 million. Kosmos Energy had a negative net margin of 59.38% and a negative return on equity of 37.60%. Research analysts anticipate that Kosmos Energy Ltd. will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other Kosmos Energy news, Director John Douglas Kelso Grant sold 43,466 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $2.73, for a total transaction of $118,662.18. Following the completion of the sale, the director directly owned 82,311 shares of the company’s stock, valued at approximately $224,709.03. This trade represents a 34.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Roy A. Franklin sold 43,466 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $2.73, for a total value of $118,662.18. Following the sale, the director directly owned 150,722 shares of the company’s stock, valued at $411,471.06. The trade was 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. In the last ninety days, insiders sold 125,568 shares of company stock valued at $342,801. 1.90% of the stock is owned by company insiders.

Institutional Trading of Kosmos Energy

Hedge funds have recently added to or reduced their stakes in the stock. M&G PLC raised its stake in shares of Kosmos Energy by 38.3% during the 3rd quarter. M&G PLC now owns 7,978,144 shares of the oil and gas producer’s stock worth $13,244,000 after buying an additional 2,210,302 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Kosmos Energy by 34.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,747,831 shares of the oil and gas producer’s stock worth $4,561,000 after buying an additional 698,740 shares in the last quarter. Dalton Investments Inc. purchased a new position in shares of Kosmos Energy during the 4th quarter worth approximately $454,000. Rafferty Asset Management LLC raised its stake in shares of Kosmos Energy by 40.5% during the 3rd quarter. Rafferty Asset Management LLC now owns 738,806 shares of the oil and gas producer’s stock worth $1,226,000 after buying an additional 212,970 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Kosmos Energy during the 1st quarter worth approximately $60,000. 95.33% of the stock is owned by institutional investors and hedge funds.

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.