Zacks Investment Research Downgrades Kosmos Energy Ltd. (KOS) to Strong Sell

Kosmos Energy Ltd. (NYSE:KOS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday.

According to Zacks, “Kosmos Energy Ltd. operates as an oil and gas exploration and production company focused on under-explored regions in Africa. Kosmos Energy Ltd. is based in Hamilton, Bermuda. “

A number of other research analysts have also recently weighed in on the company. Jefferies Group LLC cut Kosmos Energy from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Bank of America Corporation assumed coverage on Kosmos Energy in a report on Friday, September 29th. They issued a “neutral” rating and a $9.00 target price on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $9.00 target price on shares of Kosmos Energy in a report on Wednesday, September 27th. Sanford C. Bernstein began coverage on Kosmos Energy in a research note on Wednesday, September 6th. They set a “market perform” rating and a $7.00 price objective on the stock. Finally, ValuEngine upgraded Kosmos Energy from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.44.

Kosmos Energy (NYSE:KOS) last issued its earnings results on Monday, August 7th. The oil and gas producer reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.04. Kosmos Energy had a negative return on equity of 8.60% and a negative net margin of 26.69%. The firm had revenue of $146.50 million for the quarter, compared to analysts’ expectations of $168.71 million. During the same quarter last year, the firm earned ($0.11) earnings per share. The firm’s revenue for the quarter was up 220.6% compared to the same quarter last year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank boosted its holdings in Kosmos Energy by 3.3% in the first quarter. Amalgamated Bank now owns 22,537 shares of the oil and gas producer’s stock worth $150,000 after purchasing an additional 720 shares in the last quarter. Comerica Bank boosted its holdings in Kosmos Energy by 16.8% in the first quarter. Comerica Bank now owns 18,750 shares of the oil and gas producer’s stock worth $113,000 after purchasing an additional 2,701 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Kosmos Energy by 1.8% in the second quarter. SG Americas Securities LLC now owns 160,554 shares of the oil and gas producer’s stock worth $1,029,000 after purchasing an additional 2,826 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Kosmos Energy by 24.6% in the second quarter. Teacher Retirement System of Texas now owns 19,167 shares of the oil and gas producer’s stock worth $123,000 after purchasing an additional 3,778 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Kosmos Energy by 11.2% in the second quarter. Voya Investment Management LLC now owns 53,325 shares of the oil and gas producer’s stock worth $342,000 after purchasing an additional 5,379 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.

Analyst Recommendations for Kosmos Energy (NYSE:KOS)

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