Talos Energy (NYSE:TALO) Trading Up 5.8% – Here’s Why

Shares of Talos Energy Inc. (NYSE:TALO) shot up 5.8% during trading on Friday . The stock traded as high as $14.93 and last traded at $14.9420. Approximately 196,617 shares were traded during trading, a decline of 91% from the average daily volume of 2,146,840 shares. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

TALO has been the topic of a number of research reports. Citigroup lifted their price target on shares of Talos Energy from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. raised their price objective on shares of Talos Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. Mizuho boosted their price objective on shares of Talos Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. KeyCorp upped their target price on shares of Talos Energy from $15.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings cut Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.83.

Talos Energy Stock Up 3.4%

The firm has a 50-day moving average of $14.55 and a 200 day moving average of $13.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -3.39 and a beta of 0.34.

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, topping the consensus estimate of ($0.11) by $0.04. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.The firm had revenue of $472.31 million for the quarter, compared to analyst estimates of $446.39 million. During the same quarter in the previous year, the firm earned $0.06 EPS. The business’s quarterly revenue was down 7.9% on a year-over-year basis. As a group, sell-side analysts forecast that Talos Energy Inc. will post 0.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 339,568 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.80, for a total transaction of $5,704,742.40. Following the transaction, the insider directly owned 40,460,036 shares in the company, valued at approximately $679,728,604.80. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.

Institutional Trading of Talos Energy

A number of large investors have recently added to or reduced their stakes in TALO. Larson Financial Group LLC increased its stake in shares of Talos Energy by 142.9% during the 3rd 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 stake in Talos Energy by 134.4% in the 2nd 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 during the last quarter. Quarry LP bought a new position in Talos Energy during the third quarter worth about $36,000. PNC Financial Services Group Inc. grew its holdings in Talos Energy by 22.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock worth $54,000 after purchasing an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Talos Energy by 395.5% during the second 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 during 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.