Bank of America Trims Kosmos Energy (NYSE:KOS) Target Price to $7.00

Kosmos Energy (NYSE:KOS) had its target price decreased by Bank of America from $8.15 to $7.00 in a research note published on Wednesday, Benzinga reports. Bank of America currently has a buy rating on the oil and gas producer’s stock.

KOS has been the topic of several other reports. Sanford C. Bernstein lowered their target price on shares of Kosmos Energy from $7.00 to $5.00 and set a market perform rating on the stock in a research report on Wednesday, July 17th. Benchmark restated a buy rating and issued a $8.00 price target on shares of Kosmos Energy in a report on Tuesday, August 6th. Finally, Mizuho assumed coverage on Kosmos Energy in a report on Thursday, September 19th. They set a neutral rating and a $5.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $7.47.

Kosmos Energy Stock Performance

Shares of KOS stock opened at $3.96 on Wednesday. The company has a current ratio of 0.73, a quick ratio of 0.50 and a debt-to-equity ratio of 2.27. The stock has a 50 day simple moving average of $4.67 and a 200-day simple moving average of $5.41. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 1.33 and a beta of 2.42. Kosmos Energy has a 12-month low of $3.69 and a 12-month high of $8.28.

Kosmos Energy (NYSE:KOS) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). Kosmos Energy had a net margin of 13.56% and a return on equity of 40.16%. The business had revenue of $450.94 million during the quarter. On average, equities analysts forecast that Kosmos Energy will post 0.18 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vaughan Nelson Investment Management L.P. lifted its stake in Kosmos Energy by 23.8% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 25,145,473 shares of the oil and gas producer’s stock valued at $149,867,000 after buying an additional 4,830,005 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Kosmos Energy by 17.2% in the second quarter. American Century Companies Inc. now owns 24,814,072 shares of the oil and gas producer’s stock worth $137,470,000 after acquiring an additional 3,636,663 shares during the last quarter. M&G Plc purchased a new stake in shares of Kosmos Energy in the first quarter valued at $20,800,000. Webs Creek Capital Management LP purchased a new stake in shares of Kosmos Energy in the first quarter valued at $17,396,000. Finally, William Blair Investment Management LLC boosted its stake in shares of Kosmos Energy by 13.5% during the second quarter. William Blair Investment Management LLC now owns 13,620,854 shares of the oil and gas producer’s stock valued at $75,460,000 after acquiring an additional 1,624,495 shares during the last quarter. 95.33% of the stock is owned by hedge funds and other institutional investors.

About Kosmos Energy

Kosmos Energy Ltd., together with its subsidiaries, engages in the exploration, development, and production of oil and gas along the Atlantic Margins in the United States. The company’s primary assets include production projects located in offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, as well as gas projects located in offshore Mauritania and Senegal.