Talos Energy (NYSE:TALO) Reaches New 12-Month High – Here’s What Happened

Talos Energy Inc. (NYSE:TALO) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $14.35 and last traded at $14.2440, with a volume of 2121930 shares. The stock had previously closed at $13.96.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TALO shares. Citigroup boosted their target price on shares of Talos Energy from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, March 10th. Mizuho lifted their price target on shares of Talos Energy from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Tuesday. Benchmark downgraded shares of Talos Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings reissued a “sell (d)” rating on shares of Talos Energy in a research report on Monday, December 29th. Finally, KeyCorp upped their price objective 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, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.63.

Talos Energy Trading Up 2.0%

The stock’s 50-day simple moving average is $12.44 and its two-hundred day simple moving average is $11.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market capitalization of $2.40 billion, a P/E ratio of -5.02 and a beta of 0.54.

Talos Energy (NYSE:TALO) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.17). Talos Energy had a negative net margin of 27.77% and a negative return on equity of 6.59%. The firm had revenue of $392.24 million for the quarter, compared to the consensus estimate of $431.22 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was down 19.2% on a year-over-year basis. Equities research analysts expect that Talos Energy Inc. will post -0.44 EPS for the current year.

Hedge Funds Weigh In On Talos Energy

Large investors have recently made changes to their positions in the business. Virtus Fixed Income Advisers LLC purchased a new stake in shares of Talos Energy during the second quarter worth about $25,000. Larson Financial Group LLC lifted its holdings in Talos Energy by 142.9% in 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Talos Energy by 134.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock worth $32,000 after purchasing an additional 2,123 shares in the last quarter. Quarry LP bought a new position in Talos Energy in the 3rd quarter worth approximately $36,000. Finally, PNC Financial Services Group Inc. grew its holdings 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 valued at $54,000 after buying an additional 1,049 shares in the last quarter. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

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.