Patient Capital Management LLC has significantly reduced its stake in Kosmos Energy Ltd. (NYSE: KOS) by selling 16,025,064 shares during the third quarter of 2023. This divestment represents an 82.9% decrease in the firm’s holdings, bringing its total ownership to 3,314,653 shares. As of the latest quarter, these shares were valued at approximately $5,502,000, accounting for around 0.69% of the company’s total stock.
Several other institutional investors have also made adjustments to their holdings in Kosmos Energy recently. For example, Vanguard Personalized Indexing Management LLC increased its position by 34.1% in the second quarter, now owning 27,089 shares worth $47,000 after acquiring an additional 6,888 shares. Similarly, the Public Employees Retirement System of Ohio raised its stake by 53.2% during the same period, now holding 24,103 shares valued at $41,000 after purchasing 8,371 shares.
Other firms such as Orion Portfolio Solutions LLC, Park Avenue Securities LLC, and Westhampton Capital LLC also increased their investments in Kosmos Energy, contributing to a trend of institutional investment in the company. Currently, institutional investors hold a dominant 95.33% of Kosmos Energy’s stock.
Current Performance and Analyst Ratings
On December 5, 2023, shares of Kosmos Energy opened at $1.21. The company’s 50-day moving average price is $1.08, while the 200-day moving average stands at $1.53. Kosmos Energy has a market capitalization of $576.39 million, a P/E ratio of -1.77, and a beta of 0.89. The stock has fluctuated between a 52-week low of $0.84 and a 52-week high of $3.65.
Several analysts have recently reassessed their ratings and price targets for Kosmos Energy. For instance, Johnson Rice downgraded the stock from a “buy” to an “accumulate” rating, lowering its price target from $4.50 to $3.50. In contrast, Clarkson Capital initiated coverage with a “buy” rating and a price objective of $4.00. Other institutions, such as Stephens and Sanford C. Bernstein, have set target prices of $1.75 and $0.80 respectively.
According to data from MarketBeat, Kosmos Energy currently holds an average rating of “Hold” among analysts, with a consensus price target of $2.08. This mixed outlook reflects the challenges and opportunities facing the oil and gas sector as a whole.
Kosmos Energy’s Profile and Operations
Kosmos Energy Ltd., headquartered in Dallas, Texas, is an independent oil and gas exploration and production company. Founded in 2003, Kosmos focuses on identifying and developing hydrocarbon reserves in both frontier and emerging basins globally. The company employs geological and geophysical expertise combined with a disciplined approach to acreage acquisition and partner selection, pursuing high-impact offshore exploration opportunities. Its portfolio is primarily anchored by assets in West Africa and the Gulf of Mexico.
As the oil and gas market continues to evolve, Kosmos Energy’s strategic decisions will likely play a crucial role in its performance and investor sentiment moving forward.
