Talos Energy (NYSE:TALO) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Talos Energy (NYSE:TALO) from a buy rating to a hold rating in a research report released on Saturday.

A number of other brokerages have also weighed in on TALO. 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 report on Wednesday, May 27th. Roth Capital upgraded Talos Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $16.00 to $17.00 in a research note on Wednesday, July 1st. Weiss Ratings cut Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 23rd. Stephens reiterated an “overweight” rating and set a $20.00 price target on shares of Talos Energy in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target on Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Talos Energy presently has an average rating of “Hold” and an average price target of $18.50.

Talos Energy Trading Down 5.4%

NYSE:TALO opened at $14.12 on Friday. The firm has a 50 day moving average of $14.45 and a 200 day moving average of $13.96. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. Talos Energy has a 52 week low of $7.67 and a 52 week high of $17.05. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -3.28 and a beta of 0.34.

Talos Energy (NYSE:TALO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates 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 business 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 earnings per share. The company’s revenue was down 7.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Talos Energy will post 0.37 earnings per share for the current fiscal year.

Insider Transactions at Talos Energy

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the firm’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 value of $5,704,742.40. Following the sale, the insider directly owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TALO. Sourcerock Group LLC grew its stake in Talos Energy by 11.0% in the 2nd quarter. Sourcerock Group LLC now owns 11,193,177 shares of the company’s stock valued at $94,918,000 after acquiring an additional 1,110,685 shares during the period. Dimensional Fund Advisors LP raised its position in Talos Energy by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,468,553 shares of the company’s stock worth $149,234,000 after acquiring an additional 501,552 shares during the period. Geode Capital Management LLC raised its position in Talos Energy by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 3,055,968 shares of the company’s stock worth $33,682,000 after acquiring an additional 141,518 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Talos Energy by 25.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,965,543 shares of the company’s stock valued at $28,440,000 after purchasing an additional 592,509 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Talos Energy by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,448,133 shares of the company’s stock valued at $26,978,000 after purchasing an additional 9,187 shares in the last quarter. 89.35% of the stock is 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.