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Kosmos Energy
(NYSE:KOS)
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Rating:48Neutral
Price Target:
$2.00
▼(-19.35% Downside)
Action:Reiterated
Date:06/23/26
The score is held down primarily by weakened financial performance (heavy recent losses, high leverage, and negative free cash flow) and bearish technical conditions (below key moving averages with negative MACD). Offsetting these, the latest earnings call indicated strong operational execution (record production, material cost reductions) and a clearer deleveraging path with reiterated guidance, while valuation is difficult to assess due to a negative P/E.
Positive Factors
Production Growth
Sustained volume gains from GTA ramp‑up and Jubilee well additions materially expand the company’s production base. Higher, durable output improves cash flow potential, spreads fixed costs across more barrels, and supports deleveraging and funding for sanctioned growth projects over the next 2–6 months.
Negative Factors
High Leverage
Very elevated debt versus equity leaves limited financial flexibility and amplifies exposure to lower commodity prices or operational setbacks. High leverage increases interest and covenant risk, constraining capital allocation and raising the likelihood of further balance‑sheet actions if markets deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Production Growth
Sustained volume gains from GTA ramp‑up and Jubilee well additions materially expand the company’s production base. Higher, durable output improves cash flow potential, spreads fixed costs across more barrels, and supports deleveraging and funding for sanctioned growth projects over the next 2–6 months.
Read all positive factors
Kosmos Energy Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue by country or basin to show where production and sales originate, exposing geographical concentration or diversification. For Kosmos Energy, geographic revenue trends signal which assets are driving growth, where production additions matter most, and where political or logistical risks could dent top-line performance.
Breaks down revenue by country or basin to show where production and sales originate, exposing geographical concentration or diversification. For Kosmos Energy, geographic revenue trends signal which assets are driving growth, where production additions matter most, and where political or logistical risks could dent top-line performance.
Data provided by:
The Fly
The FlyKosmos Energy (KOS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.23B
Dividend YieldN/A
Average Volume (3M)11.81M
Price to Earnings (P/E)―
Beta (1Y)0.95
Revenue Growth-7.65%
EPS Growth-6775.00%
CountryUS
Employees243
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-1.68
Shares Outstanding593,189,300
10 Day Avg. Volume11,665,948
30 Day Avg. Volume11,806,846
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.82
Price to Sales (P/S)0.33
P/FCF Ratio-2.41
Enterprise Value/Market Cap3.32
Enterprise Value/Revenue2.86
Enterprise Value/Gross Profit25.19
Enterprise Value/Ebitda207.92
Forecast
1Y Price Target
$2.63Price Target Upside5.95% Upside
Rating ConsensusHold
Number of Analyst Covering6
EPS Forecast (FY)0.3
Revenue Forecast (FY)$1.69B
Kosmos Energy Business Overview & Revenue Model
Company Description
Kosmos Energy Ltd. operates as an independent company primarily engaged in deep-water oil and gas exploration and production, strategically concentrating its operations along the Atlantic Margins. Its core holdings encompass productive oil assets ...
How the Company Makes Money
Kosmos primarily makes money by producing and selling hydrocarbons from fields where it holds working interests. Revenue is generated from (1) crude oil and condensate sales, typically priced against global benchmarks and sold under offtake arrang...
Kosmos Energy Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum and financial progress — record production (+25% YoY), sizable OpEx reductions (OpEx per BOE down ~47% YoY and absolute OpEx down ~22% YoY), active deleveraging (net debt down ~7% YTD, liquidity ~$500m, equity raise ~$200m) and key strategic milestones (GTA outperformance, Phase‑1 expansion progress, Tiberius FID). Near‑term headwinds include pricing timing lags that delay benefits into Q2–Q3, a large non‑cash derivative mark‑to‑market loss that affected reported tax, and a Gulf of America well shut‑in pushing full‑year GOM production toward the low end of guidance. On balance the positives (production, cost cuts, strengthening liquidity, project FIDs and financings) substantially outweigh the negatives, leaving the company positioned to capture near‑term price upside and continue deleveraging while advancing growth projects.Positive Updates
Record Quarterly Production
Company delivered record quarterly production of ~75,000 BOE/d, representing ~25% year‑over‑year growth driven by GTA ramp‑up and new Jubilee wells.
Negative Updates
Pricing Lag Limits Near‑Term Benefit from Higher Market Prices
Due to contract lags (cargo pricing windows and historical averaging), much of the price upside seen in late 1Q will not be realized until 2Q–3Q, and some March cargoes (e.g., a hedged Jubilee cargo) did not capture the late‑quarter price strength.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Quarterly Production
Company delivered record quarterly production of ~75,000 BOE/d, representing ~25% year‑over‑year growth driven by GTA ramp‑up and new Jubilee wells.
Read all positive updates
Company Guidance
The company reiterated unchanged full‑year guidance while adding color and quantified targets: record Q1 production of ~75,000 BOE/d and a full‑year production growth target close to 15% (adjusted for the expected mid‑year Equatorial Guinea sale), with Jubilee 2026 guidance of 70,000–80,000 bbl/d gross (Q1 ~70k, 2Q mid‑70s) and three wells expected to add ~20,000 bbl/d gross in June–July; GTA Q1 output ~2.85 mtpa (above 2.7 mtpa nameplate) with 9.5 gross LNG cargos in Q1 and unchanged guidance of 32–36 gross cargos for the year, while Q2 production should be slightly below Q1 due to GTA seasonality and the Winterfell‑2 shut‑in; cost and balance‑sheet targets include Q1 OpEx just under $20/BOE, a company OpEx reduction target of 20% (management now expects to meet or exceed this and is tracking ~35% y/y on a BOE basis), a GTA OpEx per MMBtu cut of 50% targeted in 2026, net debt down ~7% from year‑end 2025 with the debt‑reduction goal doubled to ~20% by year‑end (started the year at ~$3bn net debt, liquidity ~ $500m post transactions), planned use of ~ $200m equity raise and EG sale proceeds to pay down debt, ~6 million barrels of 2026 hedges remaining (about half maturing in Q2), minimal CapEx in 2026 while advancing growth (Tiberius FID: ~ $10/boe development cost and ~$20/boe opex/transport for phase 1, ~200 million boe gross resource target and a planned farm‑down to ~1/3), and Phase‑1 GTA expansion work underway with WADB arranging ~ $270m financing (first tranche ~ $90m approved).Kosmos Energy Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
23
Negative
Cash Flow
38
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.42B | 1.30B | 1.68B | 1.70B | 2.25B | 1.33B |
| Gross Profit | 161.64M | -191.45M | 688.07M | 866.58M | 1.34B | 518.79M |
| EBITDA | 19.58M | 19.35M | 894.42M | 930.52M | 968.85M | 546.25M |
| Net Income | -814.75M | -699.79M | 189.85M | 213.52M | 226.55M | -77.84M |
Balance Sheet | ||||||
| Total Assets | 4.78B | 4.70B | 5.31B | 4.94B | 4.58B | 4.94B |
| Cash, Cash Equivalents and Short-Term Investments | 129.96M | 91.52M | 84.97M | 95.34M | 183.41M | 131.62M |
| Total Debt | 2.99B | 3.06B | 2.76B | 2.39B | 2.23B | 2.62B |
| Total Liabilities | 4.27B | 4.17B | 4.11B | 3.91B | 3.79B | 4.41B |
| Stockholders Equity | 515.11M | 528.59M | 1.20B | 1.03B | 787.85M | 529.24M |
Cash Flow | ||||||
| Free Cash Flow | -69.75M | -180.40M | -255.41M | -167.43M | 321.10M | -563.65M |
| Operating Cash Flow | 241.46M | 134.01M | 678.25M | 765.17M | 1.13B | 374.34M |
| Investing Cash Flow | -365.55M | -401.20M | -966.06M | -994.85M | -703.86M | -973.38M |
| Financing Cash Flow | 242.55M | 299.65M | 274.32M | 141.62M | -414.70M | 624.16M |
Kosmos Energy Technical Analysis
Negative
2.48
Price Trends
2.78
Negative
2.60
Negative
1.97
Positive
Market Momentum
-0.22
Positive
31.79
Neutral
10.01
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KOS, the sentiment is Negative. The current price of 2.48 is below the 20-day moving average (MA) of 2.49, below the 50-day MA of 2.78, and above the 200-day MA of 1.97, indicating a neutral trend. The MACD of -0.22 indicates Positive momentum. The RSI at 31.79 is Neutral, neither overbought nor oversold. The STOCH value of 10.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KOS.
Kosmos Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $645.71M | -32.14 | -3.12% | 11.72% | 11.44% | -157.45% | |
63 Neutral | $846.60M | -5.63 | -9.13% | 3.71% | -25.80% | -230.75% | |
54 Neutral | $794.15M | 4.33 | 24.01% | ― | 44.96% | ― | |
48 Neutral | $1.23B | -1.23 | -110.09% | ― | -7.65% | -6775.00% |
* Energy Sector Average
KOS
Kosmos Energy
2.07
0.06
2.99%
HPK
HighPeak Energy
6.70
-2.94
-30.51%
VTS
Vitesse Energy, Inc.
15.48
-5.22
-25.21%
TXO
TXO Energy Partners LP
12.37
-1.12
-8.29%
INR
Infinity Natural Resources, Inc. Class A
12.50
-2.47
-16.50%
Kosmos Energy Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Kosmos Energy completes strategic Equatorial Guinea asset sale
Positive
Jun 22, 2026
On June 16, 2026, Kosmos Energy completed the sale of its 40.375% indirect participating interests in the Ceiba Field and Okume Complex in Block G offshore Equatorial Guinea to a subsidiary of Panoro Energy, receiving approximately $127 million in...
Executive/Board ChangesShareholder Meetings
Kosmos Energy Shareholders Approve Directors and Compensation Plans
Positive
May 28, 2026
At Kosmos Energy‘s 2026 Annual Meeting of Stockholders held on May 28, 2026, shareholders re‑elected Class I directors Andrew G. Inglis and Maria Moraeus Hanssen to three‑year terms ending in 2029, with voter turnout representing...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.