Talos Energy (NYSE:TALO) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Talos Energy (NYSE:TALO) issued its earnings results on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.17, Zacks reports. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.

Talos Energy Trading Down 4.0%

TALO stock traded down $0.60 during midday trading on Tuesday, reaching $14.27. 2,537,209 shares of the company traded hands, compared to its average volume of 2,152,878. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -3.31 and a beta of 0.35. Talos Energy has a 52-week low of $7.67 and a 52-week high of $17.05. The business has a 50 day moving average of $14.28 and a 200-day moving average of $14.09. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.20 and a current ratio of 1.20.

Insider Activity at Talos Energy

In other news, insider Control Empresarial De Capital sold 339,568 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.80, for a total transaction of $5,704,742.40. Following the transaction, the insider owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased 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 acquiring an additional 2,123 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Talos Energy by 142.9% in the 3rd quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock worth $32,000 after acquiring an additional 1,942 shares during the last quarter. Quarry LP purchased a new position in shares of Talos Energy during the 3rd quarter worth about $36,000. PNC Financial Services Group Inc. grew its holdings in Talos Energy by 22.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock valued at $54,000 after purchasing an additional 1,049 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Talos Energy by 395.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock valued at $56,000 after purchasing an additional 5,236 shares during the last quarter. 89.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TALO shares. Roth Capital raised shares of Talos Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $17.00 in a report on Wednesday, July 1st. Weiss Ratings downgraded shares of Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 23rd. Wall Street Zen downgraded shares of Talos Energy from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Stephens restated an “overweight” rating and set a $20.00 target price on shares of Talos Energy in a research report on Wednesday, July 1st. Finally, Mizuho raised their target price on shares of Talos Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.50.

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.