Talos Energy (NYSE:TALO) Shares Up 5.6% – Here’s Why

Talos Energy Inc. (NYSE:TALO) traded up 5.6% during trading on Wednesday . The company traded as high as $14.29 and last traded at $14.3480. 401,829 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 2,165,727 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. KeyCorp lifted their price target on shares of Talos Energy from $15.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Wall Street Zen lowered Talos Energy from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Roth Capital upgraded Talos Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $16.00 to $17.00 in a report on Wednesday, July 1st. Weiss Ratings lowered Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. upped their target price on Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Four research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.83.

Talos Energy Trading Up 3.8%

The company’s 50-day moving average is $14.76 and its 200 day moving average is $13.63. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.35 billion, a PE ratio of -3.27 and a beta of 0.34.

Talos Energy (NYSE:TALO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $472.31 million for the quarter, compared to the consensus estimate of $446.39 million. Talos Energy had a negative net margin of 42.58% and a negative return on equity of 8.24%. The company’s revenue was down 7.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. As a group, sell-side analysts predict that Talos Energy Inc. will post 0.48 EPS for the current year.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 339,568 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $16.80, for a total value of $5,704,742.40. Following the completion of the sale, the insider directly owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. This represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Talos Energy

A number of large investors have recently made changes to their positions in TALO. Larson Financial Group LLC lifted its position 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 in the last quarter. Smartleaf Asset Management LLC grew its position in 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 acquired a new position in Talos Energy in the 3rd quarter valued at approximately $36,000. PNC Financial Services Group Inc. lifted its position in Talos Energy by 22.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock worth $54,000 after buying an additional 1,049 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Talos Energy by 395.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock worth $56,000 after buying an additional 5,236 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Talos Energy Company Profile

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.