Kosmos Energy (NYSE:KOS) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS

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) issued its earnings results on Monday. 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), Zacks reports. Kosmos Energy had a negative return on equity of 14.16% and a negative net margin of 10.74%. The firm had revenue of $393.52 million during the quarter, compared to the consensus estimate of $444.26 million.

Kosmos Energy Stock Down 4.7%

KOS stock traded down $0.09 on Friday, hitting $1.74. 12,741,427 shares of the company's stock were exchanged, compared to its average volume of 10,307,210. The firm has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $2.19. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.40 and a current ratio of 0.45. Kosmos Energy has a 12-month low of $1.39 and a 12-month high of $5.08. The stock has a market cap of $829.35 million, a P/E ratio of -5.26 and a beta of 1.49.

Insider Buying and Selling

In other news, Director John Douglas Kelso Grant sold 27,923 shares of the business's stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.99% of the stock is owned by company insiders.

Institutional Trading of Kosmos Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 valued at $5,793,000 after buying an additional 443,384 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Kosmos Energy by 56.7% in the 1st quarter. AQR Capital Management LLC now owns 387,739 shares of the oil and gas producer's stock valued at $884,000 after purchasing an additional 140,261 shares in the last quarter. Strs Ohio acquired a new position in Kosmos Energy during the first quarter worth about $120,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kosmos Energy by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 278,082 shares of the oil and gas producer's stock worth $634,000 after purchasing an additional 12,045 shares during the last quarter. Institutional investors and hedge funds own 95.33% of the company's stock.

Wall Street Analyst Weigh In

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

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.