NEW YORK (TheStreet) -- Shares of Kosmos Energy (KOS) were falling 4.2% to $9.27 on heavy trading volume Monday after the oil company missed analysts' estimates for earnings and revenue in the first quarter.
Kosmos Energy reported a loss of 18 cents a share for the first quarter, below analysts' estimates of a loss of 11 cents a share for the quarter. Revenue fell 48.7% year over year to $109.16 million for the quarter, below analysts' estimates of $164.7 million.
The company sold 1.9 million barrels of oil in the first quarter with a realized price of $57.47 a barrel, down from $109.87 a barrel in the year-ago quarter.
About 2.3 million shares of Kosmos Energy were traded by 2:42 p.m., above the company's average trading volume of about 2 million shares a day.
TheStreet Ratings team rates KOSMOS ENERGY LTD as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate KOSMOS ENERGY LTD (KOS) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and a generally disappointing performance in the stock itself."
You can view the full analysis from the report here: KOS Ratings Report