Kosmos Energy (NYSE:KOS) Trading Down 6.3% – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS)’s share price traded down 6.3% during trading on Tuesday . The company traded as low as $2.84 and last traded at $2.84. 4,558,787 shares were traded during mid-day trading, a decline of 80% from the average session volume of 23,146,547 shares. The stock had previously closed at $3.03.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group cut Kosmos Energy from a “neutral” rating to a “sell” rating and set a $2.25 price objective for the company. in a research report on Thursday, April 9th. Wall Street Zen raised Kosmos Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Johnson Rice raised Kosmos Energy from an “accumulate” rating to a “buy” rating and set a $4.25 price target on the stock in a research note on Wednesday, March 25th. Finally, Weiss Ratings lowered Kosmos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $2.22.

Kosmos Energy Trading Down 5.3%

The company has a 50 day moving average price of $2.83 and a 200 day moving average price of $1.91. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -1.71, a price-to-earnings-growth ratio of 0.45 and a beta of 0.72. The company has a debt-to-equity ratio of 5.56, a quick ratio of 0.36 and a current ratio of 0.60.

Kosmos Energy (NYSE:KOS) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas producer reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.15). Kosmos Energy had a negative net margin of 59.38% and a negative return on equity of 37.60%. The business had revenue of $370.73 million during the quarter, compared to analyst estimates of $405.21 million. On average, research analysts expect that Kosmos Energy Ltd. will post 0.24 earnings per share for the current year.

Insider Transactions at Kosmos Energy

In other news, CFO Nealesh D. Shah bought 157,894 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $1.90 per share, with a total value of $299,998.60. Following the purchase, the chief financial officer owned 1,863,061 shares in the company, valued at approximately $3,539,815.90. The trade was a 9.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adebayo O. Ogunlesi bought 3,157,895 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average cost of $1.90 per share, for a total transaction of $6,000,000.50. Following the purchase, the director owned 4,974,184 shares in the company, valued at $9,450,949.60. This represents a 173.87% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 3,684,210 shares of company stock worth $6,999,999 in the last 90 days. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Kosmos Energy

Hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in Kosmos Energy during the 1st quarter worth about $31,000. Abel Hall LLC purchased a new stake in Kosmos Energy during the 1st quarter worth about $36,000. KBC Group NV purchased a new stake in Kosmos Energy during the 1st quarter worth about $44,000. Baer Investment Advisory LLC purchased a new stake in Kosmos Energy during the 1st quarter worth about $53,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Kosmos Energy during the 1st quarter worth about $60,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

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.