Citigroup Forecasts Strong Price Appreciation for Talos Energy (NYSE:TALO) Stock

Talos Energy (NYSE:TALO) had its target price upped by equities research analysts at Citigroup from $14.00 to $16.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 18.78% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Talos Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Talos Energy in a research report on Monday, December 29th. Mizuho raised their price objective on Talos Energy from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Benchmark cut Talos Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, KeyCorp raised their price target on Talos Energy from $12.00 to $13.50 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $13.90.

Talos Energy Stock Up 1.9%

NYSE TALO traded up $0.25 during trading on Tuesday, reaching $13.47. 460,420 shares of the company’s stock were exchanged, compared to its average volume of 2,095,034. The company has a 50 day moving average price of $12.05 and a two-hundred day moving average price of $10.87. The stock has a market cap of $2.27 billion, a P/E ratio of -4.74 and a beta of 0.54. Talos Energy has a 1 year low of $6.23 and a 1 year high of $13.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.30 and a current ratio of 1.30.

Talos Energy (NYSE:TALO) last issued its earnings results on Tuesday, February 24th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.17). The business had revenue of $392.24 million for the quarter, compared to analyst estimates of $431.22 million. Talos Energy had a negative return on equity of 6.59% and a negative net margin of 27.77%.Talos Energy’s revenue was down 19.2% on a year-over-year basis. During the same period last year, the business posted $0.08 EPS. On average, equities research analysts anticipate that Talos Energy will post -0.44 EPS for the current fiscal year.

Institutional Trading of Talos Energy

Hedge funds have recently added to or reduced their stakes in the stock. Virtus Fixed Income Advisers LLC purchased a new position in shares of Talos Energy in the 2nd quarter valued at approximately $25,000. Larson Financial Group LLC raised its stake in shares of 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 purchasing an additional 1,942 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 buying an additional 2,123 shares during the last quarter. Quarry LP acquired a new position in Talos Energy in the 3rd quarter valued at $36,000. Finally, PNC Financial Services Group Inc. raised its position 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 worth $54,000 after buying an additional 1,049 shares during 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.