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

Kosmos Energy Ltd. (NYSE:KOS)’s share price fell 7.1% during trading on Tuesday . The stock traded as low as $2.32 and last traded at $2.35. Approximately 2,406,012 shares traded hands 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.

Wall Street Analyst Weigh In

A number of brokerages have commented on KOS. Stephens decreased their price objective on Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating on the stock in a report on Tuesday, July 21st. Mizuho raised Kosmos Energy to a “strong sell” rating in a report on Friday. Weiss Ratings cut shares of Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group downgraded 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 note on Thursday, April 9th. Finally, Wall Street Zen raised shares of Kosmos Energy from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $2.53.

Kosmos Energy Stock Down 6.3%

The stock has a 50-day moving average of $2.49 and a 200-day moving average of $2.40. 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 firm has a market cap of $1.41 billion, a price-to-earnings ratio of -1.41, a P/E/G ratio of 0.31 and a beta of 0.71.

Kosmos Energy (NYSE:KOS) last announced 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 during the quarter, compared to analysts’ expectations of $483.23 million. Kosmos Energy had a negative return on equity of 37.60% and a negative net margin of 59.38%. Sell-side analysts predict that Kosmos Energy Ltd. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Roy A. Franklin sold 43,466 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $2.73, for a total value of $118,662.18. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Steven Sterin sold 38,636 shares of the company’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $2.73, for a total transaction of $105,476.28. Following the sale, the director directly owned 331,295 shares of the company’s stock, valued at $904,435.35. This represents a 10.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 294,580 shares of company stock valued at $689,275 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Kosmos Energy

Several large investors have recently made changes to their positions in the company. Equinox Partners Investment Management LLC raised its position in Kosmos Energy by 6.2% during 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 purchasing an additional 1,208,053 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kosmos Energy by 19.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,045,593 shares of the oil and gas producer’s stock valued at $10,930,000 after purchasing an additional 1,962,936 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Kosmos Energy by 8.0% in the 4th 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 purchasing an additional 832,029 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Kosmos Energy by 3.0% in the 3rd quarter. Invesco Ltd. now owns 9,903,093 shares of the oil and gas producer’s stock valued at $16,439,000 after purchasing an additional 289,626 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company’s stock.

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.