Zacks Investment Research Upgrades Kosmos Energy Ltd. (KOS) to Buy
Kosmos Energy Ltd. (NYSE:KOS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $7.00 target price on the stock. Zacks Investment Research’s target price would indicate a potential upside of 8.36% from the company’s current price.
According to Zacks, “Kosmos Energy Ltd. operates as an oil and gas exploration and production company focused on under-explored regions in Africa. Kosmos Energy Ltd. is based in Hamilton, Bermuda. “
A number of other research firms have also recently commented on KOS. RBC Capital Markets raised shares of Kosmos Energy from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $6.00 to $9.00 in a research note on Wednesday, August 31st. Royal Bank Of Canada raised shares of Kosmos Energy from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $9.00 in a research report on Wednesday, August 31st. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Kosmos Energy has a consensus rating of “Buy” and an average price target of $8.05.
Shares of Kosmos Energy (NYSE:KOS) opened at 6.46 on Wednesday. Kosmos Energy has a 12-month low of $3.17 and a 12-month high of $8.00. The company’s market cap is $2.49 billion. The company has a 50 day moving average of $6.09 and a 200-day moving average of $5.76.
Kosmos Energy (NYSE:KOS) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.11) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Kosmos Energy had a negative net margin of 25.56% and a negative return on equity of 2.63%. The firm earned $45.68 million during the quarter, compared to analysts’ expectations of $121.81 million. During the same period in the previous year, the company earned ($0.20) EPS. The firm’s revenue for the quarter was up 37397.7% compared to the same quarter last year. Equities research analysts anticipate that Kosmos Energy will post ($0.35) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Kosmos Energy during the second quarter valued at approximately $8,754,000. Adage Capital Partners GP L.L.C. purchased a new position in Kosmos Energy during the second quarter valued at approximately $8,101,000. Citadel Advisors LLC raised its position in Kosmos Energy by 327.0% in the second quarter. Citadel Advisors LLC now owns 1,570,401 shares of the company’s stock valued at $8,559,000 after buying an additional 1,202,658 shares during the period. RS Investment Management Co. LLC raised its position in Kosmos Energy by 44.0% in the second quarter. RS Investment Management Co. LLC now owns 3,451,235 shares of the company’s stock valued at $18,809,000 after buying an additional 1,054,485 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Kosmos Energy by 38.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,271,294 shares of the company’s stock valued at $17,828,000 after buying an additional 915,110 shares during the period. Hedge funds and other institutional investors own 96.40% of the company’s stock.
About Kosmos Energy
Kosmos Energy Ltd. (Kosmos) is a holding company. The Company is an independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. The Company operates in the exploration and production of oil and natural gas segment. The Company’s assets include existing production and development projects offshore Ghana, large discoveries offshore Mauritania and Senegal, as well as exploration licenses with hydrocarbon potential offshore Portugal, Sao Tome and Principe, Suriname, Morocco and Western Sahara.
Receive News & Stock Ratings for Kosmos Energy Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kosmos Energy Ltd. and related stocks with our FREE daily email newsletter.