Why Is Kosmos Energy Stock Trading Higher Today?

Kosmos Energy KOS shares are trading higher on Monday after the company reported better-than-expected Q4 results.

Kosmos Energy reported quarterly earnings of $0.23 per share which beat the analyst consensus estimate of $0.14. The company reported quarterly sales of $563.72 million which beat the analyst consensus estimate of $505.61 million.

Chairman and Chief Executive Officer Andrew G. Inglis said: "Kosmos expects to reach an important inflection point in the second half of 2023 with production forecast to grow as major development projects start to come online and capital expenditures expected to fall. With higher production and lower capital, free cash flow is expected to rise into 2024 providing multiple pathways for the company to deliver value for our shareholders.”

For 2023, Kosmos Energy expects first-quarter capex to be in the range of $200 million to $225 million, and FY23 capex to be in the range of $700 million to $750 million.

Kosmos is a full-cycle deepwater independent oil and gas exploration and production company focused along the Atlantic Margins

KOS Price Action: Kosmos has a 52-week high of $8.49 and a 52-week low of $4.31.

Kosmos shares are up 12.0% at $8.47 at the time of publication, according to Benzinga Pro.