Kosmos Energy Ltd. detracted from the Hotchkis & Wiley Mid-Cap Value Fund's second-quarter 2026 performance due to broader crude oil price weakness following the reopening of the Strait of Hormuz. The fund noted that the independent offshore exploration and production company, which has assets in the US Gulf of Mexico and Ghana, saw its stock decline during the quarter. Despite the drop, the fund maintained its investment thesis, citing Kosmos Energy's strong assets, high returns on investment, attractive valuation, and reduced liquidity concerns. The fund believes oil undersupply could persist and prices may remain above normal levels. Kosmos Energy shares closed at $2.53 on August 3, 2026, with a market capitalization of $1.50 billion.
Kosmos Energy LtdBroader crude oil price weakness following the reopening of the Strait of Hormuz, which increases oil supply, negatively impacts Kosmos Energy's stock.