Kosmos Energy Ltd (KOS) Plans $0.05 Quarterly Dividend

Kosmos Energy Ltd (NYSE:KOS) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Thursday, June 6th will be paid a dividend of 0.0452 per share by the oil and gas producer on Thursday, June 27th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, June 5th.

Kosmos Energy has a payout ratio of 300.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Kosmos Energy to earn $0.67 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 26.9%.

KOS stock traded down $0.36 during trading on Thursday, hitting $6.09. 2,811,167 shares of the company’s stock traded hands, compared to its average volume of 4,055,892. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of -12.96 and a beta of 2.20. The company has a quick ratio of 0.96, a current ratio of 1.17 and a debt-to-equity ratio of 2.50. Kosmos Energy has a 1 year low of $3.53 and a 1 year high of $9.75.

Kosmos Energy (NYSE:KOS) last issued its quarterly earnings data on Monday, May 6th. The oil and gas producer reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.03. The company had revenue of $296.80 million for the quarter, compared to analyst estimates of $283.07 million. Kosmos Energy had a negative net margin of 9.02% and a negative return on equity of 21.59%. Kosmos Energy’s revenue was up 133.3% compared to the same quarter last year. During the same period last year, the company posted ($0.06) earnings per share. Analysts anticipate that Kosmos Energy will post 0.33 EPS for the current fiscal year.

In other news, Director Pincus & Co. Warburg sold 81,504,790 shares of Kosmos Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $6.51, for a total transaction of $530,596,182.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.76% of the company’s stock.

Several brokerages recently issued reports on KOS. Zacks Investment Research lowered shares of Kosmos Energy from a “buy” rating to a “hold” rating in a report on Friday, May 10th. ValuEngine downgraded shares of Kosmos Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Macquarie began coverage on shares of Kosmos Energy in a research note on Wednesday, May 1st. They issued an “outperform” rating and a $6.69 target price for the company. Barclays restated a “buy” rating and issued a $9.50 target price on shares of Kosmos Energy in a research note on Friday, April 5th. Finally, TheStreet upgraded shares of Kosmos Energy from a “d” rating to a “c-” rating in a research note on Tuesday, February 26th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Kosmos Energy currently has a consensus rating of “Buy” and an average price target of $8.88.

COPYRIGHT VIOLATION WARNING: This story was first reported by Rockland Register and is the property of of Rockland Register. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://rocklandregister.com/2019/05/30/kosmos-energy-ltd-kos-to-issue-quarterly-dividend-of-0-05.html.

About Kosmos Energy

Kosmos Energy Ltd., a deepwater independent oil and gas exploration and production company, focuses along the Atlantic Margins. Its primary assets include production offshore Ghana, Equatorial Guinea, and U.S. Gulf of Mexico, as well as a gas development offshore Mauritania and Senegal. The company also maintains an exploration program balanced between proven basin infrastructure-led exploration, emerging basins, and frontier basins.

Further Reading: How does a security become overbought?

Receive News & Ratings for Kosmos Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kosmos Energy and related companies with MarketBeat.com's FREE daily email newsletter.