Kosmos Energy Ltd. (KOS) Announces Earnings Results
Kosmos Energy Ltd. (NYSE:KOS) announced its quarterly earnings data on Monday. The oil and gas producer reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.04, Bloomberg Earnings reports. Kosmos Energy had a negative net margin of 53.37% and a negative return on equity of 11.56%. The firm had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $168.71 million. During the same period last year, the firm earned ($0.11) earnings per share. The business’s revenue for the quarter was up 220.6% on a year-over-year basis.
Kosmos Energy (NYSE KOS) opened at 6.55 on Monday. The company’s market capitalization is $2.54 billion. The stock’s 50 day moving average is $6.28 and its 200-day moving average is $6.29. Kosmos Energy has a 12 month low of $4.39 and a 12 month high of $7.90.
KOS has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Kosmos Energy in a research note on Friday, April 21st. Jefferies Group LLC raised their price objective on shares of Kosmos Energy from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Citigroup Inc. reduced their price objective on shares of Kosmos Energy from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Tuesday, May 9th. Johnson Rice initiated coverage on shares of Kosmos Energy in a research note on Tuesday, June 20th. They issued a “buy” rating on the stock. Finally, Scotiabank reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Kosmos Energy in a research note on Tuesday, May 16th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $8.50.
In other news, major shareholder Iv Gp L.L.C. Bcp sold 30,000,000 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $7.15, for a total transaction of $214,500,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.80% of the company’s stock.
Several large investors have recently bought and sold shares of KOS. Teacher Retirement System of Texas boosted its stake in Kosmos Energy by 40.8% in the first quarter. Teacher Retirement System of Texas now owns 15,389 shares of the oil and gas producer’s stock valued at $102,000 after buying an additional 4,463 shares during the period. Comerica Bank purchased a new stake in Kosmos Energy during the fourth quarter valued at $105,000. Koch Industries Inc. purchased a new stake in Kosmos Energy during the first quarter valued at $115,000. Creative Planning purchased a new stake in Kosmos Energy during the second quarter valued at $128,000. Finally, Amalgamated Bank boosted its stake in Kosmos Energy by 3.3% in the first quarter. Amalgamated Bank now owns 22,537 shares of the oil and gas producer’s stock valued at $150,000 after buying an additional 720 shares during the period.
About Kosmos Energy
Kosmos Energy Ltd. (Kosmos) is an independent oil and gas exploration and production company. The Company is focused on the emerging areas along the Atlantic Margins. Its assets include existing production and development projects offshore Ghana, discoveries and further exploration potential offshore Mauritania and Senegal, as well as exploration licenses with hydrocarbon potential offshore Sao Tome and Principe, Suriname, Morocco and Western Sahara.
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