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

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

Analyst Ratings Changes

A number of research analysts recently weighed in on TALO shares. Weiss Ratings lowered Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 23rd. Mizuho raised their price target on Talos Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of Talos Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Citigroup upped their price objective on shares of Talos Energy from $18.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Talos Energy from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Four investment 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.83.

Talos Energy Trading Up 3.4%

The business has a fifty day moving average price of $14.55 and a 200-day moving average price of $13.77. 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 company has a market cap of $2.44 billion, a P/E ratio of -3.39 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 for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $472.31 million for the quarter, compared to analyst estimates of $446.39 million. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 earnings per share. On average, analysts forecast that Talos Energy Inc. will post 0.38 earnings per share for the current year.

Insider Buying and Selling

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the stock in a transaction 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 in the company, valued at $679,728,604.80. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Talos Energy

A number of hedge funds and other institutional investors have recently modified their holdings of TALO. Sourcerock Group LLC boosted its position in shares of Talos Energy by 11.0% in the second 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. Nuveen LLC raised its stake in Talos Energy by 341.7% in the 4th quarter. Nuveen LLC now owns 1,423,138 shares of the company’s stock worth $15,683,000 after purchasing an additional 1,100,967 shares in the last quarter. Federated Hermes Inc. raised its stake in Talos Energy by 2,347.6% in the 4th quarter. Federated Hermes Inc. now owns 643,231 shares of the company’s stock worth $7,088,000 after purchasing an additional 616,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Talos Energy by 25.0% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,965,543 shares of the company’s stock worth $28,440,000 after purchasing an additional 592,509 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Talos Energy by 61.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,506,442 shares of the company’s stock valued at $16,601,000 after purchasing an additional 572,628 shares during the period. 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.