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

Talos Energy Inc. (NYSE:TALO)’s stock price shot up 5.8% on Thursday . The stock traded as high as $18.44 and last traded at $18.1740. Approximately 329,849 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,124,520 shares. The stock had previously closed at $17.17.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TALO. Weiss Ratings downgraded shares of Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Mizuho lifted their price objective on shares of Talos Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Roth Capital upgraded shares of Talos Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $17.00 in a research note on Wednesday, July 1st. Finally, Citigroup lowered their target price on shares of Talos Energy from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Talos Energy currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Talos Energy Stock Performance

The firm has a 50 day moving average of $14.51 and a two-hundred day moving average of $14.47. The stock has a market cap of $2.92 billion, a PE ratio of -7.35 and a beta of 0.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61.

Talos Energy (NYSE:TALO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.21. The firm had revenue of $664.81 million during the quarter, compared to the consensus estimate of $577.92 million. Talos Energy had a negative return on equity of 1.94% and a negative net margin of 20.46%.The firm’s quarterly revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.27) earnings per share. Research analysts predict that Talos Energy Inc. will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tejara Capital Ltd acquired a new position in Talos Energy in the fourth quarter valued at $2,910,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Talos Energy by 394,736.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 300,076 shares of the company’s stock worth $4,729,000 after purchasing an additional 300,000 shares in the last quarter. Brandywine Global Investment Management LLC lifted its holdings in shares of Talos Energy by 338.9% in the 4th quarter. Brandywine Global Investment Management LLC now owns 389,201 shares of the company’s stock valued at $4,289,000 after purchasing an additional 300,518 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Talos Energy by 22.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 459,477 shares of the company’s stock valued at $7,241,000 after purchasing an additional 85,450 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in shares of Talos Energy by 185.0% in the 1st quarter. Edgestream Partners L.P. now owns 399,501 shares of the company’s stock valued at $6,296,000 after purchasing an additional 259,321 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

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.