Kosmos Energy (NYSE:KOS) Issues Earnings Results

Key Points

• Kosmos Energy reported ($0.19) earnings per share, missing estimates by ($0.13), with revenue of $393.52 million compared to expected $444.26 million.
• The company's stock price opened at $1.95 and has experienced a 9.3% decline following the earnings announcement.
• Insider trading activity included Director John Douglas Kelso Grant selling 27,923 shares, reducing ownership by 48.27%, highlighting potential concerns over company performance.

Kosmos Energy (NYSE:KOS - Get Free Report) announced its quarterly earnings results on Monday. The oil and gas producer reported ($0.19) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.13), Zacks reports. The firm had revenue of $393.52 million during the quarter, compared to the consensus estimate of $444.26 million. Kosmos Energy had a negative return on equity of 0.63% and a negative net margin of 0.80%.

Kosmos Energy Trading Down 9.3%

NYSE:KOS opened at $1.95 on Monday. Kosmos Energy has a one year low of $1.38 and a one year high of $5.23. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.76 and a quick ratio of 0.40. The company's 50-day simple moving average is $2.00 and its 200 day simple moving average is $2.22. The firm has a market capitalization of $932.12 million, a P/E ratio of -64.98 and a beta of 1.49.

Insider Buying and Selling

In related news, Director John Douglas Kelso Grant sold 27,923 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1.81, for a total transaction of $50,540.63. Following the sale, the director 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 legal filing with the SEC, which is available at this link. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Kosmos Energy

Several hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Kosmos Energy by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 278,082 shares of the oil and gas producer's stock worth $634,000 after buying an additional 12,045 shares during the last quarter. Strs Ohio purchased a new position in Kosmos Energy in the first quarter worth about $120,000. AQR Capital Management LLC raised its holdings in Kosmos Energy by 56.7% in the first quarter. AQR Capital Management LLC now owns 387,739 shares of the oil and gas producer's stock worth $884,000 after buying an additional 140,261 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Kosmos Energy by 21.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,541,006 shares of the oil and gas producer's stock worth $5,793,000 after buying an additional 443,384 shares during the last quarter. Institutional investors own 95.33% of the company's stock.

Analyst Ratings Changes

KOS has been the topic of a number of research reports. Wall Street Zen raised shares of Kosmos Energy to a "sell" rating in a research note on Friday, May 16th. Mizuho cut their target price 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. Benchmark reaffirmed a "hold" rating on shares of Kosmos Energy in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group cut their target price on shares of Kosmos Energy from $3.50 to $3.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Kosmos Energy currently has a consensus rating of "Hold" and a consensus price target of $4.93.

About Kosmos Energy

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.

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