Talos Energy (NYSE:TALO) Hits New 52-Week High – Here’s Why

Talos Energy Inc. (NYSE:TALO) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.05 and last traded at $16.7040, with a volume of 394508 shares changing hands. The stock had previously closed at $16.59.

Analyst Upgrades and Downgrades

TALO has been the subject of several recent research reports. Roth Mkm reaffirmed a “neutral” rating and set a $16.00 price objective (up from $13.00) on shares of Talos Energy in a research report on Wednesday, April 8th. Citigroup boosted their target price on Talos Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, March 31st. JPMorgan Chase & Co. upped their price target on Talos Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings raised shares of Talos Energy from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Finally, Mizuho set a $17.00 price objective on shares of Talos Energy in a research report on Wednesday, May 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Talos Energy presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Talos Energy Stock Down 1.9%

The firm has a fifty day moving average of $15.18 and a 200-day moving average of $12.85. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.65 billion, a P/E ratio of -3.69 and a beta of 0.35.

Talos Energy (NYSE:TALO) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $472.31 million during the quarter, compared to the consensus estimate of $446.39 million. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.The business’s revenue was down 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. On average, equities research analysts anticipate that Talos Energy Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In other Talos Energy news, insider Control Empresarial De Capital sold 1,352,000 shares of the stock in a transaction on Friday, March 27th. The shares were sold at an average price of $16.68, for a total value of $22,551,360.00. Following the completion of the sale, the insider owned 41,233,604 shares in the company, valued at $687,776,514.72. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On Talos Energy

Several hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC increased its position in 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 during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Talos Energy by 134.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock worth $32,000 after acquiring an additional 2,123 shares during the period. Quarry LP bought a new position in shares of Talos Energy during the 3rd quarter worth approximately $36,000. PNC Financial Services Group Inc. increased its holdings in shares of Talos Energy by 22.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock worth $54,000 after acquiring an additional 1,049 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Talos Energy by 395.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock worth $56,000 after acquiring an additional 5,236 shares during 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.