Kosmos Energy (NYSE:KOS) Trading 3.9% Higher – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS)’s share price rose 3.9% on Wednesday . The stock traded as high as $2.69 and last traded at $2.67. Approximately 5,190,465 shares were traded during mid-day trading, a decline of 73% from the average session volume of 18,914,439 shares. The stock had previously closed at $2.57.

Analyst Upgrades and Downgrades

KOS has been the subject of several research analyst reports. Mizuho raised Kosmos Energy to a “strong sell” rating in a research note on Friday, July 31st. Stephens lowered their price target 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. Royal Bank Of Canada downgraded Kosmos Energy to a “neutral” rating in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of Kosmos Energy from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Kosmos Energy in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $2.53.

Kosmos Energy Trading Up 3.1%

The stock has a market capitalization of $1.58 billion, a P/E ratio of -2.23, a price-to-earnings-growth ratio of 0.17 and a beta of 0.73. The stock’s fifty day moving average price is $2.67 and its two-hundred day moving average price is $2.67. The company has a current ratio of 0.59, a quick ratio of 0.38 and a debt-to-equity ratio of 3.58.

Kosmos Energy (NYSE:KOS) last issued its earnings results on Monday, August 3rd. The oil and gas producer reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. Kosmos Energy had a negative net margin of 33.98% and a negative return on equity of 17.73%. The company had revenue of $607.25 million for the quarter, compared to analysts’ expectations of $483.23 million. Equities research analysts forecast that Kosmos Energy Ltd. will post 0.51 EPS for the current year.

Insider Buying and Selling

In related news, CFO Nealesh D. Shah sold 45,980 shares of Kosmos Energy stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total value of $94,259.00. Following the transaction, the chief financial officer directly owned 1,935,410 shares of the company’s stock, valued at $3,967,590.50. The trade was a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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, SVP Josh R. Marion sold 24,969 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total transaction of $51,186.45. Following the sale, the senior vice president owned 233,404 shares of the company’s stock, valued at $478,478.20. This represents a 9.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 169,012 shares of company stock worth $346,475 in the last ninety days. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Kosmos Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in shares of Kosmos Energy by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 155,923 shares of the oil and gas producer’s stock worth $329,000 after buying an additional 27,004 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Kosmos Energy during the 2nd quarter valued at about $114,000. Squarepoint Ops LLC lifted its position in Kosmos Energy by 813.3% during the 2nd quarter. Squarepoint Ops LLC now owns 1,376,536 shares of the oil and gas producer’s stock valued at $2,904,000 after acquiring an additional 1,225,813 shares during the period. Allworth Financial LP boosted its stake in Kosmos Energy by 151.0% during the second quarter. Allworth Financial LP now owns 17,312 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 10,415 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Kosmos Energy by 20.9% in the second quarter. Arizona State Retirement System now owns 159,576 shares of the oil and gas producer’s stock worth $337,000 after purchasing an additional 27,591 shares during the period. 95.33% of the stock is owned by institutional investors.

Kosmos Energy Company Profile

Kosmos Energy Ltd. is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company focuses on finding, developing and producing oil and natural gas resources, with an emphasis on offshore assets in emerging and established energy regions.

Kosmos has historically concentrated its operations along the Atlantic margins of West Africa, including interests in Ghana, Equatorial Guinea and the waters offshore Mauritania and Senegal. Its activities have included exploration, field development and production of crude oil and natural gas, as well as participation in projects designed to supply natural gas for liquefied natural gas (LNG) production and domestic markets.

Founded in 2003, Kosmos was involved in the discovery and development of major petroleum resources offshore Ghana, including the Jubilee and TEN fields.