First Trust Advisors LP increased its holdings in shares of Kosmos Energy Ltd (NYSE:KOS) by 1,464.4% during the third quarter, HoldingsChannel.com reports. The fund owned 2,844,048 shares of the oil and gas producer’s stock after buying an additional 2,662,255 shares during the period. First Trust Advisors LP’s holdings in Kosmos Energy were worth $26,592,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in Kosmos Energy during the third quarter worth $122,000. Trexquant Investment LP acquired a new position in Kosmos Energy during the second quarter worth $139,000. Cubist Systematic Strategies LLC grew its holdings in Kosmos Energy by 47.4% during the second quarter. Cubist Systematic Strategies LLC now owns 26,260 shares of the oil and gas producer’s stock worth $217,000 after acquiring an additional 8,441 shares during the period. Marshall Wace LLP acquired a new position in Kosmos Energy during the second quarter worth $250,000. Finally, State of Alaska Department of Revenue grew its holdings in Kosmos Energy by 70.8% during the second quarter. State of Alaska Department of Revenue now owns 30,992 shares of the oil and gas producer’s stock worth $256,000 after acquiring an additional 12,842 shares during the period. 93.32% of the stock is currently owned by hedge funds and other institutional investors.
Kosmos Energy stock opened at $6.50 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.79 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -19.70 and a beta of 1.92. Kosmos Energy Ltd has a fifty-two week low of $5.15 and a fifty-two week high of $9.75.
Kosmos Energy (NYSE:KOS) last posted its earnings results on Monday, August 6th. The oil and gas producer reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.05). The firm had revenue of $215.47 million during the quarter, compared to analyst estimates of $215.07 million. Kosmos Energy had a negative net margin of 49.78% and a negative return on equity of 15.21%. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. During the same period last year, the company posted ($0.02) EPS. Equities analysts predict that Kosmos Energy Ltd will post -0.25 EPS for the current year.
In other Kosmos Energy news, Director David Benjamin Krieger sold 5,684,429 shares of the company’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $8.94, for a total value of $50,818,795.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Iv Gp L.L.C. Bcp sold 3,295,571 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $8.94, for a total value of $29,462,404.74. The disclosure for this sale can be found here. 3.76% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on the company. Berenberg Bank assumed coverage on Kosmos Energy in a report on Thursday. They set a “buy” rating and a $12.00 price objective on the stock. ValuEngine lowered Kosmos Energy from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. Zacks Investment Research raised Kosmos Energy from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Friday, October 12th. Goldman Sachs Group assumed coverage on Kosmos Energy in a report on Tuesday, October 2nd. They set a “neutral” rating on the stock. Finally, Raymond James lowered Kosmos Energy from a “strong-buy” rating to an “outperform” rating in a report on Wednesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $10.02.
Kosmos Energy Company Profile
Kosmos Energy Ltd. explores for and produces oil and gas in Africa and South America. Its asset portfolio includes production and other development projects in offshore Ghana and Equatorial Guinea; and exploration potential in offshore Mauritania and Senegal, as well as exploration licenses in offshore Cote d'Ivoire, Equatorial Guinea, Morocco, Sao Tome and Principe, and Suriname.
Further Reading: Why do company’s buyback their stock?
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