Kosmos Energy (NYSE:KOS) Shares Up 3.9% – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on KOS shares. Wall Street Zen downgraded Kosmos Energy from a “strong-buy” rating to a “buy” rating in a report on Saturday. 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. Royal Bank Of Canada cut shares of Kosmos Energy to a “neutral” rating in a research note on Wednesday, May 27th. Mizuho upgraded shares of Kosmos Energy to a “strong sell” rating in a research note on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kosmos Energy in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $2.53.

Kosmos Energy Price Performance

The firm has a 50-day moving average of $2.67 and a 200 day moving average of $2.67. The company has a market capitalization of $1.58 billion, a PE ratio of -2.23, a PEG ratio of 0.17 and a beta of 0.73. The company has a debt-to-equity ratio of 3.58, a current ratio of 0.59 and a quick ratio of 0.38.

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

Insider Transactions at Kosmos Energy

In related news, SVP Josh R. Marion sold 24,969 shares of the firm’s 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 sale, the senior vice president owned 233,404 shares in the company, valued at approximately $478,478.20. This trade represents a 9.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $2.05, for a total transaction of $176,166.75. Following the completion of the sale, the chief executive officer owned 4,678,043 shares in the company, valued at $9,589,988.15. This represents a 1.80% decrease in their position. 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 sold 169,012 shares of company stock worth $346,475 over the last three months. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kosmos Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new stake in shares of Kosmos Energy in the first quarter worth $31,000. Caerus Investment Advisors LLC bought a new position in Kosmos Energy in the first quarter valued at about $31,000. Pallas Capital Advisors LLC bought a new position in Kosmos Energy in the second quarter valued at about $25,000. Proficio Capital Partners LLC purchased a new position in Kosmos Energy in the second quarter worth about $27,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Kosmos Energy during the 2nd quarter valued at about $27,000. 95.33% of the stock is owned by institutional investors.

About Kosmos Energy

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.