Bank of America Corp DE Buys 689,800 Shares of Kosmos Energy Ltd. $KOS

Key Points

• Bank of America increased its Kosmos Energy stake by 14.2%, purchasing 689,800 shares to own 5.54 million shares valued at approximately $15.4 million. Institutional investors collectively hold 95.33% of the company.
• Kosmos Energy reported quarterly EPS of $0.11, exceeding the $0.09 consensus estimate, while revenue of $607.25 million also topped expectations. However, the company posted a negative net margin of 33.98% and negative return on equity.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $2.53 versus the stock’s $3.03 opening price. Insiders have also sold 294,580 shares worth roughly $689,275 over the past 90 days.

Bank of America Corp DE lifted its stake in Kosmos Energy Ltd. (NYSE:KOS - Free Report) by 14.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,541,020 shares of the oil and gas producer's stock after purchasing an additional 689,800 shares during the quarter. Bank of America Corp DE owned about 0.93% of Kosmos Energy worth $15,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Amundi increased its position in Kosmos Energy by 97.4% during the first quarter. Amundi now owns 154,931 shares of the oil and gas producer's stock valued at $431,000 after acquiring an additional 76,442 shares during the last quarter. California State Teachers Retirement System lifted its stake in Kosmos Energy by 52.3% in the first quarter. California State Teachers Retirement System now owns 663,917 shares of the oil and gas producer's stock worth $1,846,000 after purchasing an additional 227,978 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in Kosmos Energy in the first quarter worth about $147,000. Renaissance Technologies LLC boosted its position in shares of Kosmos Energy by 224.0% during the first quarter. Renaissance Technologies LLC now owns 5,339,638 shares of the oil and gas producer's stock valued at $14,844,000 after buying an additional 3,691,800 shares during the period. Finally, Pale Fire Capital SE purchased a new position in shares of Kosmos Energy during the first quarter valued at approximately $403,000. Hedge funds and other institutional investors own 95.33% of the company's stock.

Kosmos Energy Price Performance

Shares of NYSE KOS opened at $3.03 on Friday. The company has a market cap of $1.80 billion, a PE ratio of -2.55, a P/E/G ratio of 0.21 and a beta of 0.72. Kosmos Energy Ltd. has a fifty-two week low of $0.84 and a fifty-two week high of $3.34. The company has a debt-to-equity ratio of 3.58, a quick ratio of 0.38 and a current ratio of 0.59. The business has a 50-day simple moving average of $2.42 and a two-hundred day simple moving average of $2.51.

Kosmos Energy (NYSE:KOS - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $607.25 million for the quarter, compared to the consensus estimate of $483.23 million. Kosmos Energy had a negative net margin of 33.98% and a negative return on equity of 17.73%. As a group, equities analysts expect that Kosmos Energy Ltd. will post 0.45 EPS for the current fiscal year.

Insider Activity

In other Kosmos Energy news, CEO Andrew G. Inglis sold 85,935 shares of Kosmos Energy stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total transaction of $176,166.75. Following the sale, the chief executive officer owned 4,678,043 shares of the company's stock, valued at $9,589,988.15. The trade was a 1.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 the company's stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $2.73, for a total transaction of $118,662.18. Following the sale, the director directly owned 150,722 shares of the company's stock, valued at $411,471.06. The trade was a 22.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 294,580 shares of company stock worth $689,275. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of Kosmos Energy in a research note on Monday, August 3rd. Stephens lowered their target price on shares of Kosmos Energy from $3.00 to $2.40 and set an "equal weight" rating for the company in a research note on Tuesday, July 21st. Mizuho raised shares of Kosmos Energy to a "strong sell" rating in a research note on Friday, July 31st. Royal Bank Of Canada cut shares of Kosmos Energy to a "neutral" rating in a research report on Wednesday, May 27th. Finally, Wall Street Zen raised shares of Kosmos Energy from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $2.53.

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.

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