Citigroup Issues Positive Forecast for Talos Energy (NYSE:TALO) Stock Price

Talos Energy (NYSE:TALO) had its target price upped by equities research analysts at Citigroup from $14.00 to $16.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 18.78% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. KeyCorp upped their price target on Talos Energy from $12.00 to $13.50 and gave the company an “overweight” rating in a research report on Friday, December 5th. Wall Street Zen lowered shares of Talos Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings restated a “sell (d)” rating on shares of Talos Energy in a research report on Monday, December 29th. Mizuho boosted their target price on shares of Talos Energy from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, Benchmark cut shares of Talos Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.90.

Talos Energy Price Performance

TALO stock traded up $0.25 during midday trading on Tuesday, reaching $13.47. The stock had a trading volume of 460,420 shares, compared to its average volume of 2,095,034. Talos Energy has a 52-week low of $6.23 and a 52-week high of $13.85. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $12.05 and its 200 day simple moving average is $10.87. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -4.74 and a beta of 0.54.

Talos Energy (NYSE:TALO) last issued its earnings results on Tuesday, February 24th. The company reported ($0.44) EPS 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 business had revenue of $392.24 million during the quarter, compared to analyst estimates of $431.22 million. During the same quarter last year, the company earned $0.08 earnings per share. Talos Energy’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, sell-side analysts predict that Talos Energy will post -0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Talos Energy

Several large investors have recently made changes to their positions in the stock. Virtus Fixed Income Advisers LLC acquired a new position in Talos Energy during the 2nd quarter worth $25,000. Larson Financial Group LLC grew its position in shares of Talos Energy by 142.9% during the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock worth $32,000 after buying an additional 1,942 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 worth $32,000 after buying an additional 2,123 shares during the period. Quarry LP purchased a new stake in shares of Talos Energy during the third quarter worth approximately $36,000. Finally, PNC Financial Services Group Inc. raised its holdings in Talos Energy by 22.7% in the third quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock valued at $54,000 after acquiring an additional 1,049 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

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.