Talos Energy (NYSE:TALO) Shares Gap Up Following Analyst Upgrade

Talos Energy Inc. (NYSE:TALO)’s share price gapped up before the market opened on Thursday after KeyCorp raised their price target on the stock from $15.00 to $21.00. The stock had previously closed at $14.93, but opened at $15.81. KeyCorp currently has an overweight rating on the stock. Talos Energy shares last traded at $15.9330, with a volume of 211,736 shares traded.

Other equities research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Talos Energy in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Talos Energy from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Mizuho boosted their target price on shares of Talos Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, March 17th. Benchmark cut shares of Talos Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Finally, Citigroup increased their price target on Talos Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Talos Energy has an average rating of “Hold” and a consensus target price of $17.50.

Hedge Funds Weigh In On Talos Energy

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Sector Pension Investment Board boosted its stake in Talos Energy by 43.2% during the third quarter. Public Sector Pension Investment Board now owns 601,218 shares of the company’s stock worth $5,766,000 after acquiring an additional 181,443 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Talos Energy in the third quarter valued at $3,635,000. SummerHaven Investment Management LLC bought a new stake in Talos Energy in the third quarter valued at $901,000. Principal Financial Group Inc. raised its holdings in shares of Talos Energy by 40.7% during the third quarter. Principal Financial Group Inc. now owns 858,560 shares of the company’s stock valued at $8,234,000 after purchasing an additional 248,200 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Talos Energy by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 9,526,431 shares of the company’s stock worth $91,358,000 after purchasing an additional 164,999 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors.

Talos Energy Stock Up 5.5%

The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average price is $13.32 and its 200-day moving average price is $11.48. The company has a market cap of $2.65 billion, a P/E ratio of -5.61 and a beta of 0.54.

Talos Energy (NYSE:TALO) last issued its earnings results on Tuesday, February 24th. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.17). Talos Energy had a negative net margin of 27.77% and a negative return on equity of 6.59%. The firm had revenue of $392.24 million during the quarter, compared to the consensus estimate of $431.22 million. During the same period in the previous year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was down 19.2% on a year-over-year basis. As a group, research analysts forecast that Talos Energy Inc. will post -0.44 EPS for the current year.

Talos Energy Company Profile

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.