Kosmos Energy (NYSE:KOS) Stock Price Down 3.2% – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS)’s stock price dropped 3.2% during mid-day trading on Tuesday. The company traded as low as $2.67 and last traded at $2.70. 2,789,636 shares were traded during trading, a decline of 85% from the average daily volume of 18,298,703 shares. The stock had previously closed at $2.79.

Wall Street Analyst Weigh In

KOS has been the subject of a number of recent research reports. Stephens lowered their price objective on Kosmos Energy from $3.00 to $2.40 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. Mizuho raised Kosmos Energy to a “strong sell” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Kosmos Energy in a research report on Monday, August 3rd. Finally, Wall Street Zen upgraded Kosmos Energy from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, Kosmos Energy has a consensus rating of “Reduce” and a consensus target price of $2.53.

Kosmos Energy Stock Down 1.8%

The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.38 and a current ratio of 0.59. The business’s 50 day moving average is $2.75 and its 200-day moving average is $2.68. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -2.30, a PEG ratio of 0.16 and a beta of 0.88.

Kosmos Energy (NYSE:KOS) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $607.25 million during the quarter, compared to the consensus estimate of $483.23 million. Kosmos Energy had a negative return on equity of 17.73% and a negative net margin of 33.98%. On average, sell-side analysts predict that Kosmos Energy Ltd. will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Kosmos Energy

Several institutional investors have recently bought and sold shares of KOS. Abel Hall LLC acquired a new position in shares of Kosmos Energy in the third quarter valued at approximately $35,000. Sanders Morris Harris LLC increased its stake in Kosmos Energy by 9.9% in the third quarter. Sanders Morris Harris LLC now owns 78,000 shares of the oil and gas producer’s stock valued at $207,000 after purchasing an additional 7,000 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Kosmos Energy by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 155,923 shares of the oil and gas producer’s stock valued at $329,000 after acquiring an additional 27,004 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Kosmos Energy in the 2nd quarter valued at about $114,000. Finally, Squarepoint Ops LLC increased its position in Kosmos Energy by 813.3% during the second quarter. Squarepoint Ops LLC now owns 1,376,536 shares of the oil and gas producer’s stock worth $2,904,000 after buying an additional 1,225,813 shares during the period. 95.33% of the stock is owned by institutional investors and hedge funds.

About Kosmos Energy

Kosmos Energy Ltd. (NYSE: KOS) is an independent international energy company engaged in the exploration, development and production of oil and natural gas. The company focuses primarily on offshore assets and seeks to develop hydrocarbon resources in selected emerging and frontier basins.

Kosmos has historically maintained a portfolio concentrated along the Atlantic margins of Africa. Its activities have included oil production and development projects offshore Ghana, including interests in the Jubilee and TEN fields, as well as natural gas exploration and development in the offshore Mauritania-Senegal basin.