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

Kosmos Energy Ltd. (NYSE:KOS) shares gapped down prior to trading on Monday . The stock had previously closed at $2.63, but opened at $2.44. Kosmos Energy shares last traded at $2.52, with a volume of 2,103,143 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KOS. Weiss Ratings lowered Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, May 6th. Mizuho reaffirmed an “underperform” rating and issued a $3.00 price target (up from $2.00) on shares of Kosmos Energy in a report on Wednesday, May 27th. The Goldman Sachs Group lowered 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. Wall Street Zen raised shares of Kosmos Energy from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Stephens reduced their price objective on shares of 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. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $2.53.

Kosmos Energy Stock Down 3.3%

The firm’s 50 day simple moving average is $2.53 and its 200-day simple moving average is $2.36. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -1.40, a P/E/G ratio of 0.28 and a beta of 0.71. The company has a debt-to-equity ratio of 5.56, a current ratio of 0.60 and a quick ratio of 0.36.

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

Insider Activity

In other Kosmos Energy news, Director Steven Sterin sold 38,636 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $2.73, for a total value of $105,476.28. Following the completion of the sale, the director owned 331,295 shares in the company, valued at approximately $904,435.35. The trade was a 10.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Douglas Kelso Grant sold 43,466 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $2.73, for a total value of $118,662.18. Following the completion of the sale, the director directly owned 82,311 shares of the company’s stock, valued at $224,709.03. The trade was a 34.56% decrease in their ownership of the stock. 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 have sold a total of 294,580 shares of company stock worth $689,275 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kosmos Energy

A number of institutional investors have recently modified their holdings of KOS. Equinox Partners Investment Management LLC boosted 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 worth $57,485,000 after purchasing an additional 1,208,053 shares during the period. Dalton Investments Inc. purchased a new position in Kosmos Energy during the 4th quarter worth $454,000. SG Americas Securities LLC increased its stake in Kosmos Energy by 494.9% in the first quarter. SG Americas Securities LLC now owns 722,891 shares of the oil and gas producer’s stock valued at $2,010,000 after purchasing an additional 601,368 shares during the period. Alpine Global Management LLC acquired a new position in Kosmos Energy in the fourth quarter valued at $188,000. Finally, Caxton Associates LLP raised its holdings in shares of Kosmos Energy by 70.7% in the first quarter. Caxton Associates LLP now owns 828,839 shares of the oil and gas producer’s stock valued at $2,304,000 after buying an additional 343,206 shares during the last quarter. 95.33% of the stock is 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.