Kosmos Energy (NYSE:KOS) Shares Gap Down After Earnings Miss

Kosmos Energy Ltd. (NYSE:KOS)’s share price gapped down prior to trading on Monday following a dissappointing earnings announcement. The stock had previously closed at $1.95, but opened at $1.88. Kosmos Energy shares last traded at $1.90, with a volume of 2,798,426 shares.

The oil and gas producer reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.13). The company had revenue of $393.52 million for the quarter, compared to analyst estimates of $444.26 million. Kosmos Energy had a negative return on equity of 0.63% and a negative net margin of 0.80%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KOS. Wall Street Zen upgraded Kosmos Energy to a “sell” rating in a report on Friday, May 16th. The Goldman Sachs Group decreased their price target on shares of Kosmos Energy from $3.50 to $3.00 and set a “buy” rating for the company in a research report on Monday, May 19th. Mizuho dropped their price objective on shares of Kosmos Energy from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Finally, Benchmark reiterated a “hold” rating on shares of Kosmos Energy in a research note on Thursday, June 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.93.

Insider Buying and Selling at Kosmos Energy

In related news, Director John Douglas Kelso Grant sold 27,923 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1.81, for a total transaction of $50,540.63. Following the completion of the sale, the director directly owned 29,921 shares of the company’s stock, valued at $54,157.01. The trade was a 48.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kosmos Energy

A number of institutional investors and hedge funds have recently modified their holdings of KOS. JPMorgan Chase & Co. boosted its holdings in shares of Kosmos Energy by 103.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,272,525 shares of the oil and gas producer’s stock valued at $4,352,000 after buying an additional 647,921 shares during the period. Barclays PLC lifted its stake in Kosmos Energy by 85.0% in the fourth quarter. Barclays PLC now owns 5,611,213 shares of the oil and gas producer’s stock valued at $19,190,000 after acquiring an additional 2,578,431 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Kosmos Energy by 23.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,097,622 shares of the oil and gas producer’s stock valued at $7,174,000 after acquiring an additional 395,283 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Kosmos Energy by 78.2% during the 4th quarter. Millennium Management LLC now owns 2,665,589 shares of the oil and gas producer’s stock worth $9,116,000 after buying an additional 1,170,074 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Kosmos Energy by 95.7% during the 1st quarter. SG Americas Securities LLC now owns 248,425 shares of the oil and gas producer’s stock worth $566,000 after buying an additional 121,479 shares during the last quarter. 95.33% of the stock is owned by institutional investors.

Kosmos Energy Trading Down 2.8%

The company has a current ratio of 0.76, a quick ratio of 0.40 and a debt-to-equity ratio of 2.59. The business’s 50 day moving average price is $2.01 and its 200-day moving average price is $2.21. The company has a market cap of $905.83 million, a price-to-earnings ratio of -63.15 and a beta of 1.49.

Kosmos Energy Company Profile

Kosmos Energy Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas along the Atlantic Margins in the United States. The company’s primary assets include production projects located in offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, as well as gas projects located in offshore Mauritania and Senegal.