Talos Energy (NYSE:TALO) Stock Price Up 6.6% – Here’s Why

Talos Energy Inc. (NYSE:TALO)’s stock price rose 6.6% on Wednesday . The company traded as high as $15.75 and last traded at $15.7180. Approximately 597,107 shares traded hands during trading, a decline of 72% from the average daily volume of 2,161,768 shares. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TALO shares. Benchmark lowered shares of Talos Energy from a “buy” rating to a “hold” rating in a report on Thursday, March 5th. Mizuho increased their target price on shares of Talos Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, May 27th. Roth Mkm reaffirmed a “neutral” rating and issued a $16.00 target price (up from $13.00) on shares of Talos Energy in a research report on Wednesday, April 8th. Wall Street Zen raised shares of Talos Energy from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.67.

Talos Energy Price Performance

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market capitalization of $2.59 billion, a PE ratio of -3.61 and a beta of 0.33. The company’s 50-day simple moving average is $15.22 and its 200-day simple moving average is $13.28.

Talos Energy (NYSE:TALO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.04. The company had revenue of $472.31 million for the quarter, compared to the consensus estimate of $446.39 million. Talos Energy had a negative net margin of 42.58% and a negative return on equity of 8.24%. Talos Energy’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.06 EPS. As a group, sell-side analysts anticipate that Talos Energy Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling at Talos Energy

In other news, insider Control Empresarial De Capital sold 339,568 shares of Talos Energy stock in a transaction dated Wednesday, May 20th. The shares were 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 $679,728,604.80. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have 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 owned by insiders.

Institutional Trading of Talos Energy

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of Talos Energy by 142.9% in the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock valued at $32,000 after acquiring an additional 1,942 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Talos Energy by 134.4% in the second quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock valued at $32,000 after purchasing an additional 2,123 shares during the period. Quarry LP acquired a new stake in shares of Talos Energy in the third quarter valued at about $36,000. PNC Financial Services Group Inc. lifted its stake in shares of Talos Energy by 22.7% in the third quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock valued at $54,000 after purchasing an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Talos Energy by 395.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock valued at $56,000 after purchasing an additional 5,236 shares during the period. Hedge funds and other institutional investors 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.