Talos Energy (NYSE:TALO) Releases Quarterly Earnings Results, Beats Expectations By $0.23 EPS

Talos Energy (NYSE:TALO) released its earnings results on Wednesday. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.23, Briefing.com reports. Talos Energy had a negative return on equity of 2.34% and a negative net margin of 8.91%.The firm had revenue of $450.05 million for the quarter, compared to the consensus estimate of $421.73 million. During the same quarter in the previous year, the company posted ($0.14) EPS. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year.

Talos Energy Stock Up 6.0%

Shares of NYSE TALO traded up $0.59 during mid-day trading on Friday, reaching $10.37. 2,832,141 shares of the company were exchanged, compared to its average volume of 2,213,001. The firm has a 50-day moving average of $9.64 and a 200 day moving average of $8.83. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.49. Talos Energy has a 1 year low of $6.23 and a 1 year high of $12.71. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -10.69 and a beta of 0.75.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TALO shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Talos Energy in a report on Wednesday. Mizuho restated a “neutral” rating and set a $11.00 price objective on shares of Talos Energy in a report on Monday, September 15th. Finally, Wall Street Zen downgraded Talos Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.43.

Insider Activity at Talos Energy

In other news, Director Paula R. Glover sold 6,159 shares of the firm’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $9.69, for a total value of $59,680.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its position in Talos Energy by 22.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock worth $54,000 after purchasing an additional 1,049 shares in the last quarter. New York State Common Retirement Fund grew its stake in Talos Energy by 3.9% in the 2nd quarter. New York State Common Retirement Fund now owns 47,254 shares of the company’s stock valued at $401,000 after acquiring an additional 1,780 shares during the period. Smartleaf Asset Management LLC increased 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 acquiring an additional 2,123 shares in the last quarter. Vident Advisory LLC increased its holdings in Talos Energy by 5.5% in the 2nd quarter. Vident Advisory LLC now owns 52,983 shares of the company’s stock worth $449,000 after acquiring an additional 2,760 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Talos Energy by 11.8% during the first quarter. Royal Bank of Canada now owns 28,590 shares of the company’s stock worth $278,000 after acquiring an additional 3,007 shares during the period. Institutional investors and hedge funds own 89.35% of the company’s stock.

About Talos Energy

Talos Energy Inc, through its subsidiaries, engages in the exploration and production of oil, natural gas, and natural gas liquids in the United States and Mexico. It also engages in the development of carbon capture and sequestration. Talos Energy Inc was founded in 2011 and is headquartered in Houston, Texas.