Kosmos Energy (NYSE:KOS) Trading Down 7.1% – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS)’s share price dropped 7.1% during trading on Tuesday . The company traded as low as $2.32 and last traded at $2.35. Approximately 2,406,012 shares were traded during mid-day trading, a decline of 88% from the average session volume of 20,498,063 shares. The stock had previously closed at $2.53.

Analyst Upgrades and Downgrades

KOS has been the subject of several analyst reports. Wall Street Zen raised shares of Kosmos Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Mizuho upgraded shares of Kosmos Energy to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Kosmos Energy in a research report on Monday. The Goldman Sachs Group downgraded shares of Kosmos Energy from a “neutral” rating to a “sell” rating and set a $2.25 target price for the company. in a research note on Thursday, April 9th. Finally, Stephens cut 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 report on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating, three have given 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 a consensus price target of $2.53.

Kosmos Energy Stock Down 2.9%

The company has a 50-day moving average of $2.47 and a 200-day moving average of $2.41. The company has a current ratio of 0.59, a quick ratio of 0.36 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -1.97, a price-to-earnings-growth ratio of 0.18 and a beta of 0.72.

Kosmos Energy (NYSE:KOS) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Kosmos Energy had a negative return on equity of 17.73% and a negative net margin of 33.98%.The business had revenue of $607.25 million during the quarter, compared to the consensus estimate of $483.23 million. On average, equities analysts predict that Kosmos Energy Ltd. will post 0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kosmos Energy news, 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 transaction of $176,166.75. Following the transaction, the chief executive officer owned 4,678,043 shares in the company, valued at approximately $9,589,988.15. This represents a 1.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, Director Roy A. Franklin sold 43,466 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $2.73, for a total transaction of $118,662.18. Following the completion of the transaction, the director directly owned 150,722 shares of the company’s stock, valued at approximately $411,471.06. This represents a 22.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 294,580 shares of company stock worth $689,275 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Kosmos Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KOS. Equinox Partners Investment Management LLC grew its stake in Kosmos Energy by 6.2% during the 1st 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 purchasing an additional 1,208,053 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kosmos Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 14,320,597 shares of the oil and gas producer’s stock worth $23,772,000 after purchasing an additional 286,593 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the period. Geode Capital Management LLC lifted its holdings in shares of Kosmos Energy by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 11,272,318 shares of the oil and gas producer’s stock worth $10,230,000 after purchasing an additional 832,029 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Kosmos Energy by 3.0% during the third 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. Hedge funds and other 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 high?impact offshore exploration opportunities.

The company’s portfolio is anchored by assets in West Africa and the Gulf of Mexico.