Kosmos Energy (NYSE:KOS) Trading Down 4.4% – Here’s Why

Shares of Kosmos Energy Ltd. (NYSE:KOS) traded down 4.4% on Monday . The stock traded as low as $2.58 and last traded at $2.61. Approximately 3,086,028 shares changed hands during trading, a decline of 84% from the average daily volume of 18,966,494 shares. The stock had previously closed at $2.73.

Analyst Upgrades and Downgrades

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

Kosmos Energy Trading Down 3.7%

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 stock has a market capitalization of $1.57 billion, a P/E ratio of -2.21, a price-to-earnings-growth ratio of 0.18 and a beta of 0.73. The stock has a 50-day moving average price of $2.67 and a two-hundred day moving average price of $2.67.

Kosmos Energy (NYSE:KOS) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $607.25 million during the quarter, compared to analyst estimates of $483.23 million. Kosmos Energy had a negative return on equity of 17.73% and a negative net margin of 33.98%. On average, research analysts forecast that Kosmos Energy Ltd. will post 0.51 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Nealesh Shah sold 45,980 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $2.05, for a total value of $94,259.00. Following the completion of the sale, the chief financial officer directly owned 1,935,410 shares of the company’s stock, valued at approximately $3,967,590.50. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, CEO Andrew Inglis sold 85,935 shares of Kosmos Energy stock in a transaction dated 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 directly owned 4,678,043 shares in the company, valued at $9,589,988.15. The trade was a 1.80% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders sold 169,012 shares of company stock worth $346,475. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss Life Asset Management Ltd lifted its holdings in shares of Kosmos Energy by 12.2% during the 2nd quarter. Swiss Life Asset Management Ltd now owns 38,893 shares of the oil and gas producer’s stock valued at $82,000 after buying an additional 4,215 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Kosmos Energy by 10.2% in the first quarter. Public Employees Retirement System of Ohio now owns 46,938 shares of the oil and gas producer’s stock worth $130,000 after acquiring an additional 4,361 shares during the period. GTS Securities LLC increased its position in Kosmos Energy by 23.8% during the second quarter. GTS Securities LLC now owns 28,584 shares of the oil and gas producer’s stock valued at $60,000 after acquiring an additional 5,499 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Kosmos Energy by 7.8% during the second quarter. Pictet Asset Management Holding SA now owns 93,441 shares of the oil and gas producer’s stock valued at $197,000 after acquiring an additional 6,757 shares during the last quarter. Finally, SmartHarvest Portfolios LLC lifted its holdings in Kosmos Energy by 73.0% in the first quarter. SmartHarvest Portfolios LLC now owns 23,814 shares of the oil and gas producer’s stock valued at $66,000 after acquiring an additional 10,050 shares during the period. Hedge funds and other institutional investors own 95.33% of the company’s stock.

About Kosmos Energy

Kosmos Energy Ltd. is an independent oil and gas exploration and production company headquartered in Dallas, Texas. The company focuses on finding, developing and producing oil and natural gas resources, with an emphasis on offshore assets in emerging and established energy regions.

Kosmos has historically concentrated its operations along the Atlantic margins of West Africa, including interests in Ghana, Equatorial Guinea and the waters offshore Mauritania and Senegal. Its activities have included exploration, field development and production of crude oil and natural gas, as well as participation in projects designed to supply natural gas for liquefied natural gas (LNG) production and domestic markets.

Founded in 2003, Kosmos was involved in the discovery and development of major petroleum resources offshore Ghana, including the Jubilee and TEN fields.