Prudential Financial Inc. reduced its position in shares of Kosmos Energy Ltd (NYSE:KOS) by 51.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 287,654 shares of the oil and gas producer’s stock after selling 301,200 shares during the period. Prudential Financial Inc.’s holdings in Kosmos Energy were worth $2,690,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of KOS. First Trust Advisors LP boosted its stake in shares of Kosmos Energy by 1,464.4% during the 3rd quarter. First Trust Advisors LP now owns 2,844,048 shares of the oil and gas producer’s stock worth $26,592,000 after acquiring an additional 2,662,255 shares in the last quarter. FMR LLC purchased a new stake in shares of Kosmos Energy during the 2nd quarter worth about $7,084,000. Dimensional Fund Advisors LP boosted its stake in shares of Kosmos Energy by 5.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,721,489 shares of the oil and gas producer’s stock worth $88,667,000 after acquiring an additional 584,978 shares in the last quarter. Waddell & Reed Financial Inc. purchased a new stake in shares of Kosmos Energy during the 2nd quarter worth about $3,542,000. Finally, Employees Retirement System of Texas boosted its stake in shares of Kosmos Energy by 35.3% during the 2nd quarter. Employees Retirement System of Texas now owns 1,105,000 shares of the oil and gas producer’s stock worth $9,138,000 after acquiring an additional 288,000 shares in the last quarter. 92.86% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on KOS. Goldman Sachs Group upgraded shares of Kosmos Energy from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $11.00 to $9.00 in a research report on Tuesday, November 6th. Raymond James downgraded shares of Kosmos Energy from a “strong-buy” rating to an “outperform” rating in a research report on Wednesday, September 26th. They noted that the move was a valuation call. Barclays set a $11.00 price target on shares of Kosmos Energy and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Kosmos Energy from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Friday, October 12th. Finally, Societe Generale set a $10.00 price target on shares of Kosmos Energy and gave the stock a “buy” rating in a research report on Monday, November 5th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Kosmos Energy has a consensus rating of “Buy” and a consensus price target of $10.02.
KOS opened at $4.28 on Friday. Kosmos Energy Ltd has a twelve month low of $4.08 and a twelve month high of $9.75. The company has a debt-to-equity ratio of 2.24, a quick ratio of 0.88 and a current ratio of 1.02.
Kosmos Energy (NYSE:KOS) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.09). Kosmos Energy had a negative return on equity of 21.93% and a negative net margin of 51.49%. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $239.20 million. During the same quarter last year, the company earned ($0.09) EPS. The firm’s revenue for the quarter was up 65.5% on a year-over-year basis. On average, equities research analysts forecast that Kosmos Energy Ltd will post -0.38 EPS for the current year.
In other Kosmos Energy news, Director David Benjamin Krieger sold 52,250,000 shares of the stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $5.40, for a total value of $282,150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Iv Gp L.L.C. Bcp sold 3,295,571 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $8.94, for a total transaction of $29,462,404.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,230,000 shares of company stock valued at $362,431,200. Insiders own 3.76% of the company’s stock.
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Kosmos Energy 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.
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