Berenberg Bank Begins Coverage on Kosmos Energy (KOS)

Stock analysts at Berenberg Bank began coverage on shares of Kosmos Energy (NYSE:KOS) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $12.00 price target on the oil and gas producer’s stock. Berenberg Bank’s target price suggests a potential upside of 84.62% from the company’s current price.

A number of other brokerages have also issued reports on KOS. Raymond James lowered 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. ValuEngine raised Kosmos Energy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Goldman Sachs Group assumed coverage on Kosmos Energy in a research report on Tuesday, October 2nd. They set a “neutral” rating on the stock. Zacks Investment Research lowered Kosmos Energy from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. Finally, Barclays set a $11.00 price objective on Kosmos Energy and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $10.02.

Shares of NYSE KOS opened at $6.50 on Thursday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of -19.70 and a beta of 1.92. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.79 and a current ratio of 0.96. Kosmos Energy has a 52-week low of $5.15 and a 52-week high of $9.75.

Kosmos Energy (NYSE:KOS) last announced its earnings results on Monday, August 6th. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.05). The firm had revenue of $215.47 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) EPS. Analysts predict that Kosmos Energy will post -0.25 earnings per share for the current fiscal year.

In related news, Director David Benjamin Krieger sold 5,684,429 shares of the 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 available at the SEC website. Also, major shareholder Iv Gp L.L.C. Bcp sold 3,295,571 shares of the 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 large investors have recently bought and sold shares of KOS. Northern Trust Corp increased its stake in shares of Kosmos Energy by 1.9% in the first quarter. Northern Trust Corp now owns 1,151,357 shares of the oil and gas producer’s stock valued at $7,253,000 after buying an additional 21,393 shares during the period. Guggenheim Capital LLC increased its stake in shares of Kosmos Energy by 10.8% in the first quarter. Guggenheim Capital LLC now owns 240,307 shares of the oil and gas producer’s stock valued at $1,514,000 after buying an additional 23,341 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Kosmos Energy by 70.8% in the second quarter. State of Alaska Department of Revenue now owns 30,992 shares of the oil and gas producer’s stock valued at $256,000 after buying an additional 12,842 shares during the period. Essex Investment Management Co. LLC acquired a new position in shares of Kosmos Energy in the second quarter valued at approximately $3,677,000. Finally, Unigestion Holding SA acquired a new position in shares of Kosmos Energy in the second quarter valued at approximately $496,000. 93.32% of the stock is currently owned by hedge funds and other institutional investors.

About Kosmos Energy

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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