Talos Energy (NYSE:TALO) Shares Gap Down – Here’s What Happened

Talos Energy Inc. (NYSE:TALO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $14.96, but opened at $14.00. Talos Energy shares last traded at $14.0120, with a volume of 160,890 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TALO. Mizuho increased their price target on shares of Talos Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Wall Street Zen upgraded shares of Talos Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. KeyCorp boosted their price target on Talos Energy from $15.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, April 2nd. Weiss Ratings raised Talos Energy from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Finally, Citigroup lifted their price objective on shares of Talos Energy from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.40.

Talos Energy Stock Performance

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 capitalization of $2.30 billion, a PE ratio of -3.20 and a beta of 0.33. The stock’s fifty day simple moving average is $15.11 and its 200-day simple moving average is $13.40.

Talos Energy (NYSE:TALO) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate 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 company earned $0.06 EPS. The company’s quarterly revenue was down 7.9% on a year-over-year basis. On average, research analysts predict that Talos Energy Inc. will post 0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the company’s stock in a transaction 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 owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 2,935,568 shares of company stock valued at $48,892,022 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Talos Energy

Several institutional investors and hedge funds have recently made changes to their positions in TALO. Sourcerock Group LLC increased its holdings in Talos Energy by 11.0% during 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Talos Energy by 1.8% in the third quarter. Vanguard Group Inc. now owns 9,526,431 shares of the company’s stock valued at $91,358,000 after purchasing an additional 164,999 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Talos Energy by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,468,553 shares of the company’s stock worth $149,234,000 after purchasing an additional 501,552 shares in the last quarter. American Century Companies Inc. raised its position in shares of Talos Energy by 8.6% during the 3rd quarter. American Century Companies Inc. now owns 5,765,905 shares of the company’s stock worth $55,295,000 after purchasing an additional 455,409 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Talos Energy by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 3,055,968 shares of the company’s stock worth $33,682,000 after purchasing an additional 141,518 shares during 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.