Kosmos Energy (KOS) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Kosmos Energy (NYSE:KOS) from a hold rating to a buy rating in a research note released on Friday. The firm currently has $9.50 price target on the oil and gas producer’s stock.

According to Zacks, “Kosmos Energy Ltd. operates as an oil and gas exploration and production company focused on under-explored regions in Africa. Kosmos Energy Ltd. is based in Hamilton, Bermuda. “

A number of other brokerages have also recently issued reports on KOS. Raymond James cut Kosmos Energy from a strong-buy rating to an outperform rating in a report on Wednesday, September 26th. They noted that the move was a valuation call. Barclays set a $11.00 price objective on Kosmos Energy and gave the stock a buy rating in a report on Wednesday, August 29th. Royal Bank of Canada raised Kosmos Energy from a sector perform rating to an outperform rating and set a $10.00 price objective on the stock in a report on Thursday, July 5th. ValuEngine cut Kosmos Energy from a buy rating to a hold rating in a report on Wednesday, August 15th. Finally, Goldman Sachs Group initiated coverage on Kosmos Energy in a report on Tuesday, October 2nd. They set a neutral rating on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $10.02.

KOS traded down $0.04 during trading on Friday, reaching $8.24. 2,300,591 shares of the company were exchanged, compared to its average volume of 2,542,117. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of -24.97 and a beta of 1.61. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.79 and a current ratio of 0.96. Kosmos Energy has a 12-month low of $5.15 and a 12-month high of $9.75.

Kosmos Energy (NYSE:KOS) last issued its quarterly earnings data on Monday, August 6th. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The company had revenue of $215.47 million for the quarter, compared to analysts’ expectations of $215.07 million. Kosmos Energy had a negative return on equity of 15.21% and a negative net margin of 49.78%. The business’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. On average, research analysts forecast that Kosmos Energy will post -0.05 earnings per share for the current fiscal year.

In other Kosmos Energy news, Director David Benjamin Krieger sold 5,684,429 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $8.94, for a total value of $50,818,795.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Iv Gp L.L.C. Bcp sold 3,295,571 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $8.94, for a total value of $29,462,404.74. The disclosure for this sale can be found here. Company insiders own 3.76% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its holdings in shares of Kosmos Energy by 47.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 26,260 shares of the oil and gas producer’s stock valued at $217,000 after acquiring an additional 8,441 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Kosmos Energy by 6.2% during the 2nd quarter. Rhumbline Advisers now owns 204,522 shares of the oil and gas producer’s stock valued at $1,691,000 after buying an additional 12,022 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Kosmos Energy by 70.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,992 shares of the oil and gas producer’s stock valued at $256,000 after buying an additional 12,842 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in shares of Kosmos Energy during the 3rd quarter valued at about $122,000. Finally, Swiss National Bank raised its holdings in shares of Kosmos Energy by 3.3% during the 2nd quarter. Swiss National Bank now owns 420,200 shares of the oil and gas producer’s stock valued at $3,475,000 after buying an additional 13,600 shares in the last quarter. 95.63% of the stock is currently owned by hedge funds and other institutional investors.

About Kosmos Energy

Kosmos Energy Ltd. explores for and produces oil and gas in Africa and South America. Its asset portfolio includes production and other development projects in offshore Ghana and Equatorial Guinea; and exploration potential in offshore Mauritania and Senegal, as well as exploration licenses in offshore Cote d'Ivoire, Equatorial Guinea, Morocco, Sao Tome and Principe, and Suriname.

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