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

Kosmos Energy Ltd. (NYSE:KOS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $2.78, but opened at $2.64. Kosmos Energy shares last traded at $2.65, with a volume of 6,035,299 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KOS. Bank of America restated an “underperform” rating and set a $1.00 price objective (down from $3.40) on shares of Kosmos Energy in a report on Friday, December 5th. Sanford C. Bernstein decreased their target price on Kosmos Energy from $1.70 to $0.80 and set a “market perform” rating on the stock in a research report on Monday, January 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Kosmos Energy in a research note on Monday, December 29th. Johnson Rice raised Kosmos Energy from an “accumulate” rating to a “buy” rating and set a $4.25 price target for the company in a report on Wednesday, March 25th. Finally, Mizuho decreased their price objective on Kosmos Energy from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Friday, December 12th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Kosmos Energy currently has an average rating of “Hold” and a consensus price target of $2.19.

Kosmos Energy Price Performance

The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -1.86, a price-to-earnings-growth ratio of 0.44 and a beta of 0.76. The company has a quick ratio of 0.45, a current ratio of 0.75 and a debt-to-equity ratio of 5.53. The company’s 50-day moving average is $2.06 and its 200-day moving average is $1.59.

Kosmos Energy (NYSE:KOS) last released its quarterly earnings data on Saturday, February 14th. The oil and gas producer reported ($0.16) earnings per share for the quarter. Kosmos Energy had a negative net margin of 54.18% and a negative return on equity of 39.29%. The company had revenue of $294.62 million during the quarter. Equities research analysts expect that Kosmos Energy Ltd. will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Andrew G. Inglis acquired 315,790 shares of the firm’s stock in a transaction on Tuesday, March 10th. The shares were purchased at an average cost of $1.90 per share, with a total value of $600,001.00. Following the completion of the purchase, the chief executive officer owned 4,542,807 shares of the company’s stock, valued at $8,631,333.30. This represents a 7.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Josh R. Marion sold 19,656 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $1.37, for a total transaction of $26,928.72. Following the sale, the senior vice president directly owned 197,409 shares of the company’s stock, valued at approximately $270,450.33. The trade was a 9.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders acquired 3,684,210 shares of company stock valued at $6,999,999 and sold 272,844 shares valued at $377,592. 2.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Kosmos Energy

Institutional investors have recently bought and sold shares of the business. Alpine Global Management LLC bought a new stake in shares of Kosmos Energy during the fourth quarter worth $188,000. Aristides Capital LLC bought a new stake in Kosmos Energy during the 4th quarter worth about $179,000. XTX Topco Ltd increased its position in Kosmos Energy by 500.6% in the 4th quarter. XTX Topco Ltd now owns 914,037 shares of the oil and gas producer’s stock valued at $829,000 after acquiring an additional 761,861 shares in the last quarter. Numerai GP LLC bought a new position in shares of Kosmos Energy in the fourth quarter worth about $69,000. Finally, Man Group plc acquired a new position in shares of Kosmos Energy during the fourth quarter worth approximately $140,000. Institutional investors own 95.33% of the company’s stock.

About Kosmos Energy

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.