Why These Energy Stocks are Gaining This Week

6. Kosmos Energy Ltd. (NYSE:KOS)

Share Price Gains Between Oct. 17 and Oct. 24: 15.17%

Kosmos Energy Ltd. (NYSE:KOS) is a leading deepwater exploration and production company with assets in proven basins offshore Ghana, Equatorial Guinea, and the Gulf of America, as well as a world-class gas development offshore Mauritania and Senegal.

Kosmos Energy Ltd. (NYSE:KOS) received a boost on October 24 after Clarksons initiated coverage of the stock with a ‘Buy’ rating and a price target of $4, up by more than double its current share price.

Another factor working strongly in favor of Kosmos Energy Ltd. (NYSE:KOS) is the recent rebound in global crude oil prices, with WTI crude oil futures rising by almost 8% between October 17 and October 24. The uptick comes primarily on the back of fresh sanctions announced by the Trump administration on Russian oil giants Rosneft and Lukoil to pressure Moscow over the war in Ukraine. The two oil companies are Russia’s largest and have been instrumental in funding the Kremlin’s budget.