Kosmos Energy (NYSE:KOS) Stock Moves Up 18% In a Month: But Why

The announcement of the financial results for the third fiscal quarter earlier on this week on Monday came as another boost to the Kosmos Energy (NYSE:KOS) stock.

Market Stats

On Tuesday, KOS stock jumped 5% to $3.76 with more than 9.07 million shares, compared to its average volume of 7.75 million shares. The stock has moved within a range of $3.4400 – 3.7700 after opening the trade at $3.53.

Earnings Recap

On Tuesday, the stock jumped by as much as 4% as investors continued to pile on to it and took its gains for the past month to as much as 18%. In light of such gains, it might be a good idea for investors to take a closer look at the company’s performance. In the third quarter, Kosmos suffered a net loss of as much as $29 million and that worked out to losses of $0.07 per diluted share.

However, when that figure is actually adjusted for some items that might have a bearing on comparability, the net losses shoot up to $43 million. That works out to losses of $0.11 per diluted share in Kosmos Energy. Andrew G Inglis, who is the Chief Executive Officer and Chairman of the company, spoke about the third quarter results as well. He stated that after the execution of some recent transactions, the outlook with regards to the immediate future of Kosmos Energy has improved considerably. It might be a good move to keep an eye on the Kosmos stock today.

Key Quote

Commenting on the Company’s third quarter 2021 performance and subsequent events, Chairman and Chief Executive Officer Andrew G. Inglis said: “With the recently executed transactions, Kosmos has significantly enhanced the outlook for the Company. The Oxy Ghana transaction accelerates our strategic delivery with increased near-term production and cash flow driving down leverage. The cash flow from the acquired assets also supports our portfolio transition to LNG at a time of increasing global gas demand.

Traders Corner

VEON stock is trading below the 20-Day and 50-Day Moving averages of $2.11 and $2.17 respectively. However, the stock is trading above the 200-Day moving average of $1.87. The stock is up 14% in the past 3-month.