Kosmos Energy Ltd. (NYSE:KOS) Issues Earnings Results, Beats Estimates By $0.04 EPS
Kosmos Energy Ltd. (NYSE:KOS) issued its quarterly earnings data on Monday. The oil and gas producer reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04, Bloomberg Earnings reports. Kosmos Energy had a negative return on equity of 11.56% and a negative net margin of 53.37%. The business had revenue of $146.50 million during the quarter, compared to analyst estimates of $168.71 million. During the same period in the prior year, the company posted ($0.11) EPS. The business’s revenue for the quarter was up 220.6% compared to the same quarter last year.
Shares of Kosmos Energy (KOS) opened at 6.55 on Monday. Kosmos Energy has a 52-week low of $4.39 and a 52-week high of $7.90. The firm’s market capitalization is $2.54 billion. The firm has a 50-day moving average price of $6.28 and a 200-day moving average price of $6.29.
KOS has been the subject of a number of recent analyst reports. BMO Capital Markets set a $9.00 price objective on Kosmos Energy and gave the stock a “buy” rating in a report on Monday, June 26th. BidaskClub lowered Kosmos Energy from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Kosmos Energy from a “sell” rating to a “hold” rating in a report on Monday, April 17th. Citigroup Inc. decreased their price objective on Kosmos Energy from $10.00 to $9.00 and set a “buy” rating for the company in a report on Friday, July 21st. Finally, Jefferies Group LLC set a $8.00 price objective on Kosmos Energy and gave the stock a “buy” rating in a report on Saturday, July 22nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.50.
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In other news, major shareholder Iv Gp L.L.C. Bcp sold 30,000,000 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $7.15, for a total transaction of $214,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.80% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Hotchkis & Wiley Capital Management LLC raised its stake in shares of 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. raised 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 in the last quarter. Genesis Asset Managers LLP raised 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 in the last quarter. Boston Partners raised 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 in the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised 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 in the last quarter.
About Kosmos Energy
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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