Why Kosmos Energy Stock Jumped as Much as 10% in Morning Trading Today
Shares of offshore energy driller Kosmos Energy (NYSE: KOS) rose a quick 10% in early trading on June 21. There was no company-specific news, but there was an update out of Bernstein that probably helped to boost investor excitement today.
An analyst at Bernstein moved Kosmos from market perform up to outperform. The big-picture background for this is that the analyst expects oil demand to increase by around 10% even as alternative energy options, such as electric cars and hydrogen, continue to expand. That would be a particularly good outcome for exploration and production names across the board, as they look to return more capital to investors.
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Source Fool.com