Kosmos Energy (NYSE:KOS) Shares Down 8% on Analyst Downgrade

Kosmos Energy Ltd. (NYSE:KOS – Get Rating)’s share price dropped 8% during mid-day trading on Wednesday after Barclays lowered their price target on the stock from $10.75 to $10.00. Barclays currently has an overweight rating on the stock. Kosmos Energy traded as low as $6.28 and last traded at $6.32. Approximately 930,219 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 6,453,314 shares. The stock had previously closed at $6.87.

Several other research analysts have also issued reports on the company. Benchmark restated a “buy” rating and set a $10.00 target price on shares of Kosmos Energy in a research report on Tuesday, February 28th. Peel Hunt assumed coverage on Kosmos Energy in a research report on Friday, March 10th. They issued an “add” rating and a $8.94 price objective on the stock. Bank of America downgraded Kosmos Energy from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $10.00 to $9.60 in a research report on Tuesday, February 28th. StockNews.com cut shares of Kosmos Energy from a “hold” rating to a “sell” rating in a report on Monday, February 27th. Finally, TheStreet lowered shares of Kosmos Energy from a “b-” rating to a “c” rating in a report on Monday, February 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kosmos Energy currently has an average rating of “Moderate Buy” and a consensus price target of $130.51.

Institutional Trading of Kosmos Energy

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Kosmos Energy by 24.9% during the 2nd quarter. FMR LLC now owns 67,965,626 shares of the oil and gas producer’s stock worth $420,707,000 after acquiring an additional 13,531,844 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Kosmos Energy by 2,698.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,399,727 shares of the oil and gas producer’s stock worth $40,702,000 after acquiring an additional 6,171,065 shares in the last quarter. Invesco Ltd. grew its holdings in Kosmos Energy by 291.5% during the 1st quarter. Invesco Ltd. now owns 8,048,295 shares of the oil and gas producer’s stock worth $57,868,000 after acquiring an additional 5,992,660 shares in the last quarter. State Street Corp grew its holdings in Kosmos Energy by 22.6% during the 1st quarter. State Street Corp now owns 25,401,775 shares of the oil and gas producer’s stock worth $182,639,000 after acquiring an additional 4,679,471 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Kosmos Energy by 1,549.5% during the 2nd quarter. Millennium Management LLC now owns 3,150,453 shares of the oil and gas producer’s stock worth $19,501,000 after acquiring an additional 2,959,461 shares in the last quarter. 87.13% of the stock is owned by hedge funds and other institutional investors.

Kosmos Energy Trading Down 9.6 %

The company has a debt-to-equity ratio of 2.79, a quick ratio of 0.58 and a current ratio of 0.82. The company’s fifty day simple moving average is $7.51 and its 200-day simple moving average is $6.67. The company has a market capitalization of $2.85 billion, a P/E ratio of 12.94, a PEG ratio of 1.33 and a beta of 2.77.

Kosmos Energy (NYSE:KOS – Get Rating) last issued its earnings results on Sunday, February 26th. The oil and gas producer reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Kosmos Energy had a net margin of 9.85% and a return on equity of 66.00%. The company had revenue of $563.72 million for the quarter. During the same quarter in the previous year, the company earned $0.13 earnings per share. Research analysts predict that Kosmos Energy Ltd. will post 1.21 earnings per share for the current year.

About Kosmos Energy

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Kosmos Energy Ltd. engages in the exploration, development, and production of oil and gas. The firm’s assets include production offshore Ghana, Equatorial Guinea and the U.S. Gulf of Mexico, as well as a gas development offshore Mauritania and Senegal. It also maintains a sustainable exploration program balanced between proven basin infrastructure-led exploration, emerging basins, and frontier basins.