Kosmos Energy (NYSE:KOS) Trading Down 6.6% – Here’s What Happened

Kosmos Energy Ltd. (NYSE:KOS) shares traded down 6.6% during mid-day trading on Thursday . The stock traded as low as $2.14 and last traded at $2.14. Approximately 4,840,534 shares were traded during trading, a decline of 77% from the average session volume of 21,011,928 shares. The stock had previously closed at $2.29.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KOS shares. Wall Street Zen upgraded shares of Kosmos Energy from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Mizuho restated an “underperform” rating and issued a $3.00 price target (up from $2.00) on shares of Kosmos Energy in a research report on Wednesday, May 27th. Royal Bank Of Canada lowered shares of Kosmos Energy to a “neutral” rating in a report on Wednesday, May 27th. Johnson Rice raised shares of Kosmos Energy from an “accumulate” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group lowered shares of Kosmos Energy from a “neutral” rating to a “sell” rating and set a $2.25 price objective on the stock. in a research note on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Kosmos Energy has an average rating of “Reduce” and a consensus price target of $2.44.

Kosmos Energy Stock Performance

The company has a current ratio of 0.60, a quick ratio of 0.36 and a debt-to-equity ratio of 5.56. The company’s 50-day moving average is $2.71 and its two-hundred day moving average is $2.21. The stock has a market capitalization of $1.28 billion, a P/E ratio of -1.28, a P/E/G ratio of 0.26 and a beta of 0.71.

Kosmos Energy (NYSE:KOS) last posted its 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 return on equity of 37.60% and a negative net margin of 59.38%.The firm had revenue of $370.73 million during the quarter, compared to the consensus estimate of $405.21 million. As a group, sell-side analysts anticipate that Kosmos Energy Ltd. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Andrew G. Inglis sold 85,935 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $2.05, for a total value of $176,166.75. Following the completion of the transaction, the chief executive officer directly owned 4,678,043 shares of the company’s stock, valued at $9,589,988.15. This represents a 1.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, Director Roy A. Franklin sold 43,466 shares of Kosmos Energy stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $2.73, for a total value of $118,662.18. Following the sale, the director directly owned 150,722 shares in the company, valued at $411,471.06. The trade was a 22.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 294,580 shares of company stock worth $689,275. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kosmos Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in Kosmos Energy in the 1st quarter valued at about $31,000. Caerus Investment Advisors LLC bought a new stake in shares of Kosmos Energy during the 1st quarter worth about $31,000. Abel Hall LLC bought a new stake in shares of Kosmos Energy during the 1st quarter worth about $36,000. KBC Group NV acquired a new stake in shares of Kosmos Energy in the 1st quarter worth approximately $44,000. Finally, Baer Investment Advisory LLC acquired a new stake in shares of Kosmos Energy in the 1st quarter worth approximately $53,000. 95.33% of the stock is currently owned by institutional investors.

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.