Is Kosmos Energy a Good Oil & Gas Stock to Own? By StockNews
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© Reuters Is Kosmos Energy a Good Oil & Gas Stock to Own?Investors are now paying attention to this sector due to its recent rally in prices and stocks. And because the rally shows no sign of abating in the near term, we think it’s worth exploring if Kosmos (KOS) could be a good addition to one’s portfolio now, given its mixed valuation? Continue reading to learn more. Kosmos Energy Ltd . (NYSE:), Hamilton, Bermuda. The company operates independently as an oil and gas exploration, production, and consulting firm, with a focus on the Atlantic Margins. Production offshore Ghana and Equatorial Guinea are the company’s main assets, as well as gas development off Mauritania, Senegal, and Mauritania.
Due to rising crude oil and natural gas prices amid a prolonged supply squeeze, the oil & gas industry has gained impressively over the past year. KOS’ shares gained 217.5% and 19.4% respectively over the past 12 months. Also, KOS’ shares returned 7.3% in their last trading session to close at $3.81. The stock trades above its 200-day and 50-day moving averages, $2.74, and $2.80 respectively.
The rising oil prices have been a major benefit to the company. KOS is expected to continue its growth as oil prices are predicted to reach $200 per barrel. According to Goldman Sachs (NYSE:), “the possibility of $150-$200 per barrel seems increasingly likely over the next 6-24 months.”
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