American Century Companies Inc. Sells 3,035,323 Shares of Kosmos Energy Ltd. $KOS

Key Points

• American Century cut its stake in Kosmos Energy by 9.1%, selling 3,035,323 shares and now holds 30,375,723 shares (about 6.35% of the company) valued at $50.42M at quarter-end; institutional investors own 95.33% of the stock.
• Insiders have been selling: CFO Nealesh D. Shah sold 54,434 shares and CAO Ronald W. Glass sold 19,285 shares on Feb. 3, and insiders sold a total of 272,844 shares (≈$377,592) over the last three months, reducing insider ownership to 1.99%.
• Analyst consensus is a "Hold" with an average price target of $2.08, while Kosmos reported a quarterly loss (EPS -$0.16) and missed revenue estimates, and carries a high debt-to-equity ratio of 5.53.

American Century Companies Inc. cut its stake in Kosmos Energy Ltd. (NYSE:KOS - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,375,723 shares of the oil and gas producer's stock after selling 3,035,323 shares during the quarter. American Century Companies Inc. owned about 6.35% of Kosmos Energy worth $50,424,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in Kosmos Energy during the 2nd quarter valued at about $27,000. Ellevest Inc. bought a new position in shares of Kosmos Energy in the second quarter valued at approximately $34,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Kosmos Energy during the second quarter valued at approximately $42,000. Y Intercept Hong Kong Ltd purchased a new position in Kosmos Energy during the third quarter valued at approximately $50,000. Finally, Caprock Group LLC bought a new stake in Kosmos Energy during the 3rd quarter worth approximately $53,000. Hedge funds and other institutional investors own 95.33% of the company's stock.

Insiders Place Their Bets

In related news, CFO Nealesh D. Shah sold 54,434 shares of the company's stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $1.37, for a total transaction of $74,574.58. Following the completion of the transaction, the chief financial officer owned 1,729,857 shares in the company, valued at $2,369,904.09. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald W. Glass sold 19,285 shares of the business's stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $1.37, for a total transaction of $26,420.45. Following the transaction, the chief accounting officer directly owned 342,945 shares in the company, valued at approximately $469,834.65. The trade was a 5.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 272,844 shares of company stock valued at $377,592 over the last three months. 1.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KOS has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of Kosmos Energy from $1.75 to $2.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Johnson Rice lowered Kosmos Energy from a "buy" rating to an "accumulate" rating and dropped their price objective for the company from $4.50 to $3.50 in a research note on Friday, December 5th. Bank of America restated an "underperform" rating and set a $1.00 target price (down from $3.40) on shares of Kosmos Energy in a research report on Friday, December 5th. Stephens started coverage on Kosmos Energy in a report on Tuesday, November 11th. They issued an "equal weight" rating and a $1.75 price target on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Kosmos Energy in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.08.

Kosmos Energy Trading Down 0.8%

Shares of KOS stock opened at $2.52 on Friday. The company has a debt-to-equity ratio of 5.53, a current ratio of 0.75 and a quick ratio of 0.29. Kosmos Energy Ltd. has a 1-year low of $0.84 and a 1-year high of $2.70. The stock has a market capitalization of $1.21 billion, a PE ratio of -1.73 and a beta of 0.76. The business has a 50-day moving average of $1.50 and a 200 day moving average of $1.48.

Kosmos Energy (NYSE:KOS - Get Free Report) last posted its quarterly earnings results on Monday, March 2nd. The oil and gas producer reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.02). Kosmos Energy had a negative net margin of 54.18% and a negative return on equity of 39.29%. The firm had revenue of $294.62 million for the quarter, compared to the consensus estimate of $323.46 million. As a group, sell-side analysts anticipate that Kosmos Energy Ltd. will post 0.42 earnings per share for the current year.

Kosmos Energy Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.