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KOS

Kosmos

$7.44

-0.07 (-0.93%)

, HES

Hess Corp.

$45.21

0.18 (0.40%)

17:05
10/23/17
10/23
17:05
10/23/17
17:05

Kosmos to acquire interest in exploration licenses in Gulf of Guinea for $650M

Kosmos Energy announced that in partnership with Trident Energy it has agreed to acquire an interest in three exploration licenses, as well as Hess Corporation's (HES) interest in the adjacent Ceiba Field and Okume Complex assets offshore Equatorial Guinea on a 50-50 basis. Under the terms of the agreements, The transactions add approximately 13,500 barrels of oil per day of net production with identified opportunities for resource and value upside and includes approximately 45 million barrels of net identified 2P/2C remaining recoverable resource. Assets are expected to generate approximately $120 million of operating cash flow per year at $50 Brent over the next several years, net to Kosmos. The gross acquisition price of $650 million is effective as of January 1, 2017. Kosmos is expected to pay net cash consideration of approximately $240 million at close, subject to post-closing adjustments. The company plans to fund the acquisition using cash on hand and availability from its reserves based lending facility.

KOS

Kosmos

$7.44

-0.07 (-0.93%)

HES

Hess Corp.

$45.21

0.18 (0.40%)

  • 25

    Oct

  • 06

    Nov

KOS Kosmos
$7.44

-0.07 (-0.93%)

10/04/17
JEFF
10/04/17
DOWNGRADE
Target $8
JEFF
Hold
Kosmos downgraded to Hold from Buy at Jefferies
Jefferies analyst Niki Kouzmanov downgraded Kosmos Energy to Hold citing valuation saying the risk/reward is now fairly priced. The analyst keeps an $8 price target for the shares.
09/29/17
BOFA
09/29/17
INITIATION
Target $9
BOFA
Neutral
Kosmos initiated with a Neutral at BofA/Merrill
BofA/Merrill analyst Rafal Gutaj initiated Kosmos with a Neutral and $9 price target saying shares are fairly valued.
09/06/17
BERN
09/06/17
INITIATION
BERN
Market Perform
Kosmos initiated with a Market Perform at Bernstein
Bernstein analyst Bob Brackett started coverage of Kosmos with a $7 price target and a Market Perform rating. The analyst says that the company is a play on higher oil prices or "fat tail exploration success." His net asset value estimate for the company is $7 per share, slightly below yesterday's closing price of $7.27.
05/15/17
RBCM
05/15/17
NO CHANGE
RBCM
Kosmos price target raised to $13 from $10 at RBC Capital
RBC Capital analyst Al Stanton increased his price target on Kosmos. The analyst says that the company " is building a world-class gas resource" off the Senegal coast where a large amount of gas was recently discovered. He keeps an Outperform rating on the shares.
HES Hess Corp.
$45.21

0.18 (0.40%)

09/14/17
09/14/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Hertz (HTZ) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Adam Jonas citing the doubling of shares over the last three months and raised its price target to $14 from $12. 2. New Oriental Education (EDU) downgraded to Underweight from Neutral at JPMorgan with analyst Leon Chik saying the downgrade is "purely a valuation call." 3. McKesson (MCK) and AmerisourceBergen (ABC) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Apache (APA) and Imperial Oil (IMO) were downgraded to Underweight from Neutral at JPMorgan, while Hess Corp. (HES) was downgraded to Neutral from Overweight. 5. Ryanair (RYAAY) downgraded to Reduce from Hold at HSBC with analyst Andrew Lobbenberg citing the ECJ ruling against the company's practice of employing flight crew on Irish labor contracts. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/14/17
JPMS
09/14/17
DOWNGRADE
Target $45
JPMS
Neutral
Hess Corp. downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Phil Gresh downgraded Hess Corp. to Neutral and lowered his price target for the shares to $45 from $52. The analyst highlights the company's "persistent" spending gap and "premium" valuation.
07/17/17
WOLF
07/17/17
DOWNGRADE
WOLF
Peer Perform
Hess Corp. downgraded to Peer Perform from Outperform at Wolfe Research
06/27/17
06/27/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Impinj (PI) was downgraded to Sector Weight from Overweight by Pacific Crest analyst Brad Erickson based on valuation. 2. Mizuho analyst Haendel St. Juste downgraded Store Capital (STOR) to Neutral from Buy citing fair valuation following recent strength driven by Berkshire Hathaway's (BRK.A) investment. 3. Camtek (CAMT) was downgraded to Hold from Buy by Needham analyst Y. Edwin Mok, as he expects to see some deceleration as the PCB business normalizes and he believes large orders for back-end semi inspections are already reflected in the stock after its recent run-up. 4. Nomura Instinet analyst Dan Dolev downgraded Cintas (CTAS) to Neutral from Buy after lowering his FY18 uniform rental organic growth forecasts to 5% from 7%. 5. Atlantic Equities analyst Barry MacCarthy downgraded Hess Corp. (HES) and Schlumberger (SLB), both to Neutral from Overweight, given his view of the limited prospects for an oil price rebound. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

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IBM

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GE

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, T

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SYNA

Synaptics

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MKSI

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$103.50

-0.35 (-0.34%)

, BRCD

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MKSI

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TCMD

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