Kosmos Energy (NYSE:KOS) Shares Break Above Fifty Day Moving Average - Here's What Happened

Key Points

• Kosmos Energy shares rose 8.2%, reaching $2.90 and moving above the 50-day moving average of $2.76 on heavy volume.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating, with one Buy, four Holds, and four Sells, and an average price target of $2.37.
• The company beat quarterly earnings expectations, reporting $0.11 in EPS versus $0.09 expected and $607.25 million in revenue, while hedge funds and institutional investors own 95.33% of the stock.

Kosmos Energy Ltd. (NYSE:KOS - Get Free Report) shares crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $2.76 and traded as high as $2.90. Kosmos Energy shares last traded at $2.90, with a volume of 26,184,133 shares.

Wall Street Analysts Forecast Growth

KOS has been the subject of a number of research analyst reports. Wall Street Zen cut Kosmos Energy from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group downgraded Kosmos Energy from a "buy" rating to a "hold" rating and raised their price target for the stock from $2.75 to $2.90 in a research note on Wednesday. Stephens cut their price target on Kosmos Energy from $3.00 to $2.40 and set an "equal weight" rating on the stock in a research report on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Kosmos Energy in a research note on Monday, August 3rd. Finally, Mizuho upgraded Kosmos Energy to a "strong sell" rating in a research note on Friday, July 31st. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Kosmos Energy currently has a consensus rating of "Reduce" and an average target price of $2.37.

Kosmos Energy Stock Up 8.2%

The business's fifty day moving average price is $2.76 and its 200 day moving average price is $2.50. The company has a quick ratio of 0.38, a current ratio of 0.59 and a debt-to-equity ratio of 3.58. The firm has a market capitalization of $1.73 billion, a PE ratio of -2.44, a PEG ratio of 0.16 and a beta of 0.88.

Kosmos Energy (NYSE:KOS - Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and gas producer reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. Kosmos Energy had a negative net margin of 33.98% and a negative return on equity of 17.73%. The business had revenue of $607.25 million during the quarter, compared to the consensus estimate of $483.23 million. On average, equities research analysts forecast that Kosmos Energy Ltd. will post 0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Kosmos Energy

Large investors have recently modified their holdings of the business. WESPAC Advisors LLC purchased a new position in shares of Kosmos Energy in the 3rd quarter worth about $907,000. Verdence Capital Advisors LLC lifted its holdings in Kosmos Energy by 15.5% in the 3rd quarter. Verdence Capital Advisors LLC now owns 397,775 shares of the oil and gas producer's stock worth $1,010,000 after buying an additional 53,496 shares in the last quarter. Inspire Investing LLC boosted its holdings in Kosmos Energy by 52.2% in the third quarter. Inspire Investing LLC now owns 496,529 shares of the oil and gas producer's stock valued at $1,261,000 after purchasing an additional 170,398 shares during the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Kosmos Energy by 62.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 11,453 shares of the oil and gas producer's stock valued at $29,000 after buying an additional 4,382 shares during the last quarter. Finally, Abel Hall LLC acquired a new position in Kosmos Energy during the 3rd quarter worth $35,000. 95.33% of the stock is owned by hedge funds and other institutional investors.

Kosmos Energy Company Profile

Kosmos Energy Ltd. NYSE: KOS is an independent energy company engaged in the exploration, development and production of oil and natural gas. The company focuses primarily on offshore assets and seeks to develop resources in partnership with national oil companies, international energy companies and other industry participants.

Kosmos has historically operated across several regions, including offshore Ghana, Equatorial Guinea, Mauritania and Senegal, as well as the U.S. 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.