Kosmos Energy Ltd. (NYSE:KOS) Price Target Lowered to $9.00 at Citigroup Inc.
Kosmos Energy Ltd. (NYSE:KOS) had its target price dropped by Citigroup Inc. from $10.00 to $9.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the oil and gas producer’s stock. Citigroup Inc.’s price objective suggests a potential upside of 44.46% from the stock’s previous close.
KOS has been the topic of several other reports. Zacks Investment Research lowered shares of Kosmos Energy from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 11th. BidaskClub upgraded shares of Kosmos Energy from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Scotiabank set a $7.00 price objective on shares of Kosmos Energy and gave the company a “hold” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $9.00 price objective on shares of Kosmos Energy and gave the company a “buy” rating in a research report on Monday, June 26th. Finally, ValuEngine downgraded shares of Kosmos Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.50.
Shares of Kosmos Energy (NYSE:KOS) traded down 2.81% during mid-day trading on Friday, hitting $6.23. 1,216,960 shares of the stock traded hands. The firm’s market cap is $2.41 billion. Kosmos Energy has a 12-month low of $4.39 and a 12-month high of $7.90. The firm’s 50 day moving average price is $6.20 and its 200 day moving average price is $6.32.
Kosmos Energy (NYSE:KOS) last issued its quarterly earnings data on Monday, May 8th. The oil and gas producer reported ($0.11) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.01. The firm had revenue of $152 million for the quarter, compared to analysts’ expectations of $173.10 million. Kosmos Energy had a negative net margin of 53.37% and a negative return on equity of 11.56%. The firm’s revenue was up 144.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) EPS. On average, equities research analysts predict that Kosmos Energy will post ($0.30) EPS for the current fiscal year.
In related news, major shareholder Iv Gp L.L.C. Bcp sold 30,000,000 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $7.15, for a total value of $214,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC boosted its stake in Kosmos Energy by 4.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 31,857,895 shares of the oil and gas producer’s stock worth $212,174,000 after buying an additional 1,426,390 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Kosmos Energy by 9,534.9% in the first quarter. BlackRock Inc. now owns 15,272,898 shares of the oil and gas producer’s stock worth $101,717,000 after buying an additional 15,114,381 shares during the period. Genesis Asset Managers LLP boosted its stake in shares of Kosmos Energy by 32.7% in the second quarter. Genesis Asset Managers LLP now owns 12,138,219 shares of the oil and gas producer’s stock worth $77,806,000 after buying an additional 2,991,253 shares during the period. Boston Partners boosted its stake in shares of Kosmos Energy by 152.8% in the first quarter. Boston Partners now owns 9,059,099 shares of the oil and gas producer’s stock worth $60,334,000 after buying an additional 5,475,789 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Kosmos Energy by 3.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 8,399,885 shares of the oil and gas producer’s stock worth $53,843,000 after buying an additional 251,660 shares during the period.
Kosmos Energy Company Profile
Kosmos Energy Ltd. (Kosmos) is an independent oil and gas exploration and production company. The Company is focused on the emerging areas along the Atlantic Margins. Its assets include existing production and development projects offshore Ghana, discoveries and further exploration potential offshore Mauritania and Senegal, as well as exploration licenses with hydrocarbon potential offshore Sao Tome and Principe, Suriname, Morocco and Western Sahara.
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