Talos Energy (NYSE:TALO) Stock Price Up 4.5% – Here’s What Happened

Talos Energy Inc. (NYSE:TALO) traded up 4.5% on Tuesday . The company traded as high as $13.51 and last traded at $13.48. 710,852 shares were traded during mid-day trading, a decline of 66% from the average session volume of 2,061,612 shares. The stock had previously closed at $12.90.

Wall Street Analysts Forecast Growth

TALO has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Talos Energy in a report on Monday, December 29th. KeyCorp raised their price target on shares of Talos Energy from $12.00 to $13.50 and gave the stock an “overweight” rating in a report on Friday, December 5th. Mizuho upped their price target on Talos Energy from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Citigroup raised their price target on Talos Energy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen lowered shares of Talos Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.50.

Talos Energy Price Performance

The firm has a market cap of $2.20 billion, a P/E ratio of -4.60 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.30 and a quick ratio of 1.30. The firm’s 50 day moving average is $11.92 and its 200 day moving average is $10.75.

Talos Energy (NYSE:TALO) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.17). Talos Energy had a negative net margin of 27.77% and a negative return on equity of 6.59%. The company had revenue of $392.24 million for the quarter, compared to the consensus estimate of $431.22 million. During the same period last year, the business earned $0.08 EPS. The firm’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, analysts anticipate that Talos Energy Inc. will post -0.44 earnings per share for the current year.

Institutional Investors Weigh In On Talos Energy

Several institutional investors and hedge funds have recently made changes to their positions in TALO. Virtus Fixed Income Advisers LLC bought a new position in Talos Energy in the 2nd quarter valued at approximately $25,000. Larson Financial Group LLC raised its stake in shares of Talos Energy by 142.9% in the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock worth $32,000 after purchasing an additional 1,942 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Talos Energy by 134.4% during the second quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock valued at $32,000 after purchasing an additional 2,123 shares in the last quarter. Quarry LP purchased a new stake in shares of Talos Energy during the third quarter valued at $36,000. Finally, CWM LLC increased its holdings in Talos Energy by 186.3% in the 2nd quarter. CWM LLC now owns 6,027 shares of the company’s stock worth $51,000 after buying an additional 3,922 shares in the last quarter. Institutional investors own 89.35% of the company’s stock.

About Talos Energy

Talos Energy Inc is an independent oil and gas exploration and production company headquartered in Houston, Texas. Founded in 2012 by industry veterans Tim Duncan and Jeremy Rights, the firm completed its initial public offering in 2021 and trades on the New York Stock Exchange under the ticker symbol TALO. The company’s core operations focus on the acquisition, exploration, development and production of offshore hydrocarbon reserves, with a primary emphasis on the U.S. Gulf of Mexico basin.

Talos Energy’s asset portfolio spans deepwater and shelf opportunities in the Gulf of Mexico, where it holds interests in several producing fields and exploration blocks.