Kosmos Energy Ltd.
- Open
- 2.09
- Day high
- 2.12
- Day low
- 2.01
- Prev close
- 2.11
- Volume
- 7.3M
- Mkt cap
- $1.2B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 2.4
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$343K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions mixed (13F)
Kosmos Energy Ltd. (KOS) is a Energy company listed on NYSE. The stock is up 12% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
Kosmos Energy Ltd. (KOS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KOS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.08 | $-0.07 | -191.3% | $371M | -8.5% |
| Feb 26, 2024 | $0.24 | $0.31 | +29.2% | $508M | +6.3% |
| Feb 27, 2023 | $0.14 | $0.23 | +64.3% | $510M | +2.2% |
| Feb 28, 2022 | $0.19 | $0.13 | -31.6% | $573M | +7.1% |
| Feb 22, 2021 | $-0.09 | $-0.12 | -33.3% | $274M | -12.5% |
| Feb 24, 2020 | $-0.11 | $-0.09 | +18.2% | $450M | -18.2% |
| Feb 25, 2019 | $0.05 | $-0.09 | -280.0% | $301M | +350.0% |
| Nov 5, 2018 | $-0.14 | $-0.23 | -64.3% | $243M | +0.0% |
| Aug 6, 2018 | $-0.04 | $-0.09 | -138.7% | $215M | +7.7% |
| May 7, 2018 | $-0.13 | $-0.06 | +53.8% | $127M | -53.8% |
| Feb 26, 2018 | $-0.11 | $-0.10 | +9.1% | $187M | -9.1% |
| Feb 27, 2017 | $-0.01 | $-0.01 | -62.9% | $156M | -66.7% |
KOS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 29, 2026 | STICE J MICHAELdirector | Grant | 62,044 | $2.74 |
| May 29, 2026 | Grant John Douglas Kelsodirector | Tax | 735 | $2.85 |
| May 29, 2026 | Grant John Douglas Kelsodirector | Grant | 62,044 | $2.74 |
| May 29, 2026 | Franklin Roy A.director | Grant | 62,044 | $2.74 |
| May 29, 2026 | Sterin Stevendirector | Grant | 62,044 | $2.74 |
| May 29, 2026 | Sterin Stevendirector | Sell | 38,636 | $2.73 |
| May 29, 2026 | Franklin Roy A.director | Tax | 976 | $2.85 |
| May 29, 2026 | GOODWIN DEANNA Ldirector | Grant | 62,044 | $2.74 |
| May 29, 2026 | Franklin Roy A.director | Sell | 43,466 | $2.73 |
| May 29, 2026 | Moraeus Hanssen Mariadirector | Grant | 62,044 | $2.74 |
| May 29, 2026 | Ogunlesi Adebayo O.director | Grant | 62,044 | $2.74 |
| May 29, 2026 | Grant John Douglas Kelsodirector | Sell | 43,466 | $2.73 |
| Mar 12, 2026 | INGLIS ANDREW Gdirector, officer: Chairman and CEO | Buy | 315,790 | $1.90 |
| Mar 12, 2026 | Shah Nealesh D.officer: SVP and CFO | Buy | 157,894 | $1.90 |
| Mar 12, 2026 | STICE J MICHAELdirector | Buy | 52,631 | $1.90 |
Source: KOS SEC Form 4 filings, latest May 29, 2026. For informational purposes only — not investment advice.
See the full KOS insider & 13F page →Kosmos Energy Ltd. company profile
Overview
Kosmos Energy Ltd. (NYSE:KOS) is a deep-water independent oil and gas exploration and production company founded in 2003 and headquartered in Dallas, Texas. The company went public in 2011 and has established itself as a focused player in Atlantic Margins exploration and production, with operations spanning West Africa, the Gulf of Mexico, and emerging liquefied natural gas (LNG) projects. Kosmos has built a portfolio of producing assets offshore Ghana, Equatorial Guinea, and the U.S. Gulf of Mexico, while developing significant gas resources offshore Mauritania and Senegal through its flagship Greater Tortue Ahmeyim (GTA) project.
Business
Kosmos Energy operates in the upstream oil and gas sector, focusing on deep-water exploration, development, and production along the Atlantic Margins. The company's business is built around identifying and developing hydrocarbon resources in challenging deep-water environments, particularly in areas where geological similarities suggest high potential for oil and gas discoveries. The company's operations are organized into several key geographic segments. **Ghana operations** represent the company's most mature producing assets, including the Jubilee and TEN (Tweneboa, Enyenra, and Ntomme) fields, which together produce approximately 100,000 barrels of oil per day gross. These fields utilize floating production, storage, and offloading vessels (FPSOs) to extract and process crude oil from subsea wells. **Equatorial Guinea operations** focus on the Ceiba and Okume fields, producing around 25,000 barrels of oil per day gross through infill drilling and optimization programs. The **U.S. Gulf of Mexico segment** includes multiple development projects including Winterfell and the recently discovered Tiberius field, contributing approximately 20,000 barrels of oil equivalent per day. The company's most significant growth driver is the **Greater Tortue Ahmeyim (GTA) project**, a major natural gas development offshore Mauritania and Senegal. This project represents Kosmos's strategic pivot toward natural gas and LNG, featuring subsea gas wells connected to a floating LNG facility capable of producing 2.45 million tonnes of LNG annually, with potential expansion to 2.7 million tonnes. The project achieved first LNG production in early 2024 and represents a fundamental shift in the company's production mix from predominantly oil to a more balanced oil and gas portfolio. Based on recent financial disclosures, Ghana operations contribute approximately 60-65% of total production, Gulf of Mexico operations account for roughly 25-30%, and Equatorial Guinea represents about 10-15% of current production volumes. The GTA project is expected to significantly alter this mix as it ramps up to full production capacity.
Revenue model
Kosmos Energy generates revenue primarily through the sale of crude oil and natural gas production from its operated and non-operated assets. The company's business model centers on **commodity sales** where oil is sold at prevailing market prices, typically benchmarked to Brent crude, while natural gas from the GTA project is sold under long-term contracts with pricing linked to oil prices at approximately 9.5% of Brent crude prices. The company's customers include major oil trading companies, refiners, and in the case of LNG, international gas buyers under long-term offtake agreements. For the GTA project, Kosmos has established commercial arrangements with BP for LNG marketing and sales, providing stable revenue streams through contracted volumes of 2.45 million tonnes per annum. **Revenue variability factors** significantly impact the company's profitability. Oil price fluctuations directly affect revenues, with the company targeting breakeven operations at approximately $50 per barrel Brent crude. The company has implemented hedging strategies, with about 40% of 2025 oil production hedged to provide price protection. **Production optimization** through infill drilling, enhanced oil recovery techniques, and facility uptime improvements can increase volumes and revenues. **Operational efficiency** improvements, including the recent $25 million annual overhead reduction program, help maintain margins during lower commodity price periods. **Cost structure management** is critical to profitability, with the company focusing on reducing capital expenditures from over $800 million annually to a target of under $400 million in 2025. **Facility reliability** and **maintenance scheduling** significantly impact production volumes and cash generation, as demonstrated by planned maintenance shutdowns that temporarily reduce output. **Currency fluctuations** and **local content requirements** in various jurisdictions can affect operating costs, while **fiscal terms** and **government take** in host countries impact net revenues to the company. The company's leverage to commodity prices is both a strength and vulnerability, with strong cash generation during favorable price environments but potential cash flow challenges during sustained low-price periods. The diversification into natural gas through GTA provides some commodity price diversification, though LNG pricing remains correlated to oil prices under current contract structures.
Competitive moat
Kosmos Energy operates in a capital-intensive industry with limited sustainable competitive advantages, though the company has developed several defensive characteristics. The company's **technical expertise in deep-water exploration** along the Atlantic Margins provides some competitive positioning, as the geological knowledge and operational experience in these specific basins creates barriers for new entrants. The company's **established relationships with host governments** in Ghana, Equatorial Guinea, Mauritania, and Senegal provide operational continuity and potential access to future licensing rounds. The **long-life, high-quality asset base** offers some protection through multi-decade reserve lives, with the company reporting a 22-year reserves-to-production ratio. The **integrated value chain approach** in the GTA project, from upstream gas production through LNG processing and marketing arrangements with BP, creates operational efficiencies and revenue optimization opportunities that would be difficult for competitors to replicate quickly. However, Kosmos faces significant **competitive pressures** from larger integrated oil companies with superior financial resources, technological capabilities, and risk management capacity. **National oil companies** in host countries represent potential competition for future licensing opportunities and may seek to increase their participation in existing projects. **Independent oil companies** with similar focus areas compete for the same exploration acreage and development opportunities. The **commodity nature** of oil and gas production limits pricing power, while **technological disruption** from renewable energy sources poses long-term demand risks. **Regulatory and environmental pressures** increasingly favor cleaner energy alternatives, potentially constraining future growth opportunities and asset valuations. **Geopolitical risks** in operating jurisdictions can disrupt operations and create regulatory uncertainties. Overall, Kosmos operates in a structurally challenging industry with limited moat characteristics. The company's competitive position relies more on operational execution, cost management, and strategic asset positioning rather than sustainable competitive advantages. The transition toward natural gas provides some differentiation, but the fundamental commodity exposure and capital intensity constraints remain significant competitive challenges.
Risks & safety
**Overall Assessment**: Kosmos Energy presents elevated financial risk due to high leverage, commodity price exposure, and limited liquidity buffers, though recent operational improvements provide some stability. **Debt and Solvency Metrics**: • Debt-to-equity ratio of 2.59x indicates high financial leverage • Current ratio of 0.76x shows working capital constraints with current liabilities exceeding current assets • Cash position of $50 million provides limited liquidity buffer • Enterprise value-to-EBITDA of 10.95x suggests elevated valuation relative to cash generation • Net debt leverage targeting below 1.5x remains a key deleveraging objective **Cash Flow and Operational Metrics**: • Negative free cash flow of -$91 million in Q1 2025 indicates ongoing capital intensity • Operational cash flow near breakeven at -$0.9 million demonstrates marginal cash generation • Target breakeven of $50 per barrel Brent provides operational flexibility in moderate price environments • Planned capital expenditure reduction to under $400 million annually should improve cash flow generation **Other Risk Considerations**: • Commodity price sensitivity creates earnings volatility and cash flow unpredictability • Concentration in politically sensitive jurisdictions adds operational and regulatory risks • Limited geographic and asset diversification increases project-specific risks • High capital requirements for maintaining and growing production constrain financial flexibility
Recent development
Over the past several years, Kosmos Energy has executed a strategic transformation from a primarily oil-focused exploration and production company to a more diversified energy company with significant natural gas and LNG capabilities. The **Greater Tortue Ahmeyim (GTA) project** represents the centerpiece of this transformation, achieving first LNG production in early 2024 after years of development. The project has progressed from initial gas discovery through construction and commissioning, with all four liquefaction trains now operational and targeting production above nameplate capacity of 2.45 million tonnes per annum. The company has implemented a **disciplined capital allocation strategy**, reducing annual capital expenditures from over $800 million to a target of under $400 million in 2025, representing a 50% reduction. This capital discipline extends to **operational cost management**, with a $25 million annual overhead reduction program implemented to improve operational efficiency and maintain competitiveness during lower commodity price environments. **Portfolio optimization efforts** have focused on maximizing returns from existing assets rather than pursuing aggressive expansion. In Ghana, the company completed a comprehensive three-year drilling campaign at Jubilee and is conducting new 4D seismic surveys to optimize future development plans. The **Gulf of Mexico operations** have expanded through the Winterfell project startup and the Tiberius discovery, providing growth opportunities in a familiar regulatory environment. **Financial restructuring initiatives** have included refinancing $900 million in bonds, increasing reserve-based lending facility capacity, and implementing commodity hedging strategies covering approximately 40% of 2025 oil production. The company has prioritized **debt reduction** as a key strategic objective, targeting leverage below 1.5x before considering shareholder returns or significant growth investments. The **strategic pivot toward gas and LNG** reflects management's view of long-term energy transition trends, with natural gas representing a cleaner-burning fossil fuel with potential demand growth in emerging markets. The company is exploring **Phase 1+ expansion opportunities** for the GTA project and evaluating additional gas development opportunities in the Yakaar-Teranga and BirAllah discoveries offshore Senegal.
KOS company profile · for informational purposes only — not investment advice.
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