Kosmos Energy (NYSE:KOS) Announces Earnings Results

Kosmos Energy (NYSE:KOS) released its earnings results on Monday. The oil and gas producer reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02, FiscalAI reports. The business 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 59.38% and a negative return on equity of 37.60%.

Kosmos Energy Stock Performance

KOS opened at $2.69 on Monday. The stock has a market capitalization of $1.60 billion, a PE ratio of -1.60, a P/E/G ratio of 0.31 and a beta of 0.72. Kosmos Energy has a one year low of $0.84 and a one year high of $3.34. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.36 and a current ratio of 0.60. The business’s 50 day moving average price is $2.50 and its 200 day moving average price is $2.39.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KOS shares. Stephens cut their price target on Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Royal Bank Of Canada lowered Kosmos Energy to a “neutral” rating in a research note on Wednesday, May 27th. Weiss Ratings downgraded Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded Kosmos Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, The Goldman Sachs Group cut shares of Kosmos Energy from a “neutral” rating to a “sell” rating and set a $2.25 price target on the stock. in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $2.53.

Insider Activity at Kosmos Energy

In other Kosmos Energy news, CFO Nealesh D. Shah sold 45,980 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total value of $94,259.00. Following the transaction, the chief financial officer owned 1,935,410 shares of the company’s stock, valued at $3,967,590.50. This represents a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, CEO Andrew G. Inglis sold 85,935 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $2.05, for a total transaction of $176,166.75. Following the transaction, the chief executive officer directly owned 4,678,043 shares of the company’s stock, valued at approximately $9,589,988.15. This trade represents a 1.80% decrease in their position. 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. Insiders have sold 294,580 shares of company stock valued at $689,275 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Kosmos Energy

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Kosmos Energy by 2.0% in 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in Kosmos Energy by 19.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,045,593 shares of the oil and gas producer’s stock worth $10,930,000 after purchasing an additional 1,962,936 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kosmos Energy by 8.0% in the fourth 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 buying an additional 832,029 shares in the last quarter. Invesco Ltd. grew its stake in shares of Kosmos Energy by 3.0% in the third quarter. Invesco Ltd. now owns 9,903,093 shares of the oil and gas producer’s stock valued at $16,439,000 after buying an additional 289,626 shares in the last quarter. Finally, M&G PLC raised its holdings in shares of Kosmos Energy by 9.5% in the 4th quarter. M&G PLC now owns 8,736,923 shares of the oil and gas producer’s stock valued at $8,737,000 after buying an additional 758,779 shares during the period. 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. 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.