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

Kosmos Energy Ltd. (NYSE:KOS)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.34, but opened at $2.49. Kosmos Energy shares last traded at $2.42, with a volume of 3,014,518 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KOS shares. Stephens lowered their price target on Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating for the company in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of Kosmos Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Royal Bank Of Canada downgraded shares of Kosmos Energy to a “neutral” rating in a report on Wednesday, May 27th. Weiss Ratings lowered shares of Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Finally, Mizuho restated an “underperform” rating and set a $3.00 price target (up from $2.00) on shares of Kosmos Energy in a report on Wednesday, May 27th. 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’s stock. According to MarketBeat.com, Kosmos Energy currently has an average rating of “Reduce” and an average target price of $2.53.

Kosmos Energy Trading Up 5.1%

The firm has a fifty day moving average of $2.53 and a two-hundred day moving average of $2.36. The company has a market cap of $1.46 billion, a PE ratio of -1.46, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 5.56.

Kosmos Energy (NYSE:KOS) last released its quarterly earnings data on Wednesday, May 6th. The oil and gas producer reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). The business had revenue of $370.73 million for the quarter, compared to analysts’ expectations of $405.21 million. Kosmos Energy had a negative net margin of 59.38% and a negative return on equity of 37.60%. As a group, sell-side analysts predict that Kosmos Energy Ltd. will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, SVP Josh R. Marion sold 24,969 shares of Kosmos Energy stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total value of $51,186.45. Following the completion of the transaction, the senior vice president directly owned 233,404 shares in the company, valued at approximately $478,478.20. The trade was a 9.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Kosmos Energy 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 completion of the transaction, the chief executive officer owned 4,678,043 shares of the company’s stock, valued at $9,589,988.15. This represents a 1.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last quarter, insiders have sold 294,580 shares of company stock valued at $689,275. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Kosmos Energy

Several hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio raised its stake in shares of Kosmos Energy by 10.2% during the 1st quarter. Public Employees Retirement System of Ohio now owns 46,938 shares of the oil and gas producer’s stock valued at $130,000 after purchasing an additional 4,361 shares during the period. Parallel Advisors LLC boosted its stake in Kosmos Energy by 41.0% in the 3rd quarter. Parallel Advisors LLC now owns 24,634 shares of the oil and gas producer’s stock worth $41,000 after purchasing an additional 7,169 shares during the period. Orion Porfolio Solutions LLC grew its holdings in Kosmos Energy by 18.8% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 57,782 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 9,159 shares in the last quarter. SmartHarvest Portfolios LLC grew its holdings in Kosmos Energy by 73.0% during the 1st quarter. SmartHarvest Portfolios LLC now owns 23,814 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 10,050 shares in the last quarter. Finally, Equitable Holdings Inc. increased its position in shares of Kosmos Energy by 30.3% during the fourth quarter. Equitable Holdings Inc. now owns 45,539 shares of the oil and gas producer’s stock valued at $41,000 after buying an additional 10,598 shares during the period. 95.33% of the stock is currently owned by hedge funds and other institutional investors.

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.