Kosmos Energy (NYSE:KOS) Trading Down 8.3% on Disappointing Earnings

Shares of Kosmos Energy Ltd. (NYSE:KOS) dropped 8.3% during trading on Monday following a weaker than expected earnings announcement. The company traded as low as $2.90 and last traded at $2.92. Approximately 3,577,133 shares traded hands during trading, a decline of 52% from the average daily volume of 7,513,113 shares. The stock had previously closed at $3.18.

The oil and gas producer reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The company had revenue of $397.66 million for the quarter, compared to analyst estimates of $387.60 million. Kosmos Energy had a return on equity of 31.08% and a net margin of 12.21%.

Analysts Set New Price Targets

Several equities analysts have commented on KOS shares. Mizuho decreased their target price on shares of Kosmos Energy from $5.00 to $4.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. StockNews.com cut Kosmos Energy from a “hold” rating to a “sell” rating in a research note on Tuesday. Benchmark decreased their price target on Kosmos Energy from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Sanford C. Bernstein dropped their price objective on Kosmos Energy from $5.00 to $4.00 and set a “market perform” rating for the company in a research report on Tuesday, November 5th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $5.60 target price on shares of Kosmos Energy in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.52.

Insider Buying and Selling

In other news, CAO Ronald W. Glass sold 10,354 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $3.12, for a total value of $32,304.48. Following the transaction, the chief accounting officer now owns 299,498 shares in the company, valued at approximately $934,433.76. The trade was a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Josh R. Marion sold 16,144 shares of Kosmos Energy stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $3.12, for a total transaction of $50,369.28. Following the transaction, the senior vice president now directly owns 172,057 shares of the company’s stock, valued at $536,817.84. This represents a 8.58 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 503,970 shares of company stock valued at $1,572,386 over the last 90 days. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Kosmos Energy

Hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Kosmos Energy during the 3rd quarter worth approximately $28,000. VSM Wealth Advisory LLC bought a new stake in Kosmos Energy in the fourth quarter valued at $34,000. Disciplined Investors L.L.C. bought a new position in shares of Kosmos Energy during the 4th quarter worth about $36,000. Sapient Capital LLC acquired a new stake in shares of Kosmos Energy in the 4th quarter valued at about $37,000. Finally, Signaturefd LLC increased its position in Kosmos Energy by 39,777.8% in the 3rd quarter. Signaturefd LLC now owns 10,767 shares of the oil and gas producer’s stock valued at $43,000 after buying an additional 10,740 shares in the last quarter. 95.33% of the stock is currently owned by institutional investors.

Kosmos Energy Trading Down 8.2 %

The business has a 50 day moving average of $3.34 and a two-hundred day moving average of $3.85. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 6.01, a P/E/G ratio of 5.24 and a beta of 2.41. The company has a debt-to-equity ratio of 2.25, a quick ratio of 0.47 and a current ratio of 0.75.

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.