Benchmark Downgrades Talos Energy (NYSE:TALO) to Hold

Talos Energy (NYSE:TALO) was downgraded by analysts at Benchmark from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, MarketBeat reports.

TALO has been the subject of a number of other research reports. Mizuho increased their target price on shares of Talos Energy from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Wall Street Zen lowered shares of Talos Energy from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Talos Energy in a report on Monday, December 29th. Citigroup lifted their target price on shares of Talos Energy from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, KeyCorp boosted their target price on Talos Energy from $12.00 to $13.50 and gave the stock an “overweight” rating in a report on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.50.

Talos Energy Price Performance

Shares of TALO stock opened at $13.27 on Thursday. The stock’s fifty day simple moving average is $12.01 and its 200 day simple moving average is $10.80. Talos Energy has a one year low of $6.23 and a one year high of $13.85. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -4.67 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.30 and a quick ratio of 1.30.

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

Institutional Investors Weigh In On Talos Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtus Fixed Income Advisers LLC bought a new position in Talos Energy in the second quarter valued at about $25,000. Larson Financial Group LLC raised its holdings in Talos Energy by 142.9% during 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 during the last quarter. Smartleaf Asset Management LLC raised its holdings in Talos Energy by 134.4% during 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 during the last quarter. Quarry LP acquired a new position in Talos Energy during the 3rd quarter valued at about $36,000. Finally, PNC Financial Services Group Inc. lifted its position 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 purchasing an additional 1,049 shares during the period. 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.