Talos Energy (NYSE:TALO) Price Target Raised to $17.00

Talos Energy (NYSE:TALO) had its price objective raised by JPMorgan Chase & Co. from $16.00 to $17.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also issued reports on TALO. Roth Mkm reiterated a “neutral” rating and set a $16.00 price target (up from $13.00) on shares of Talos Energy in a research note on Wednesday, April 8th. Citigroup boosted their price target on shares of Talos Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Benchmark lowered shares of Talos Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. KeyCorp boosted their price target on shares of Talos Energy from $15.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen upgraded shares of Talos Energy from a “sell” rating to a “hold” rating in a research note on Sunday, May 3rd. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.50.

Talos Energy Price Performance

Shares of NYSE:TALO opened at $16.38 on Wednesday. The company has a 50-day simple moving average of $14.93 and a 200-day simple moving average of $12.64. Talos Energy has a one year low of $7.67 and a one year high of $17.00. 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 stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of -3.80 and a beta of 0.35.

Talos Energy (NYSE:TALO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. Talos Energy had a negative net margin of 42.58% and a negative return on equity of 8.24%. The business had revenue of $472.31 million during the quarter, compared to analysts’ expectations of $446.39 million. During the same period in the prior year, the company earned $0.06 earnings per share. The business’s revenue was down 7.9% compared to the same quarter last year. On average, analysts predict that Talos Energy will post 0.21 EPS for the current year.

Insider Activity

In other Talos Energy news, insider Control Empresarial De Capital sold 1,352,000 shares of the company’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of $16.68, for a total transaction of $22,551,360.00. Following the transaction, the insider directly owned 41,233,604 shares in the company, valued at approximately $687,776,514.72. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.36% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in Talos Energy by 142.9% during the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock worth $32,000 after buying an additional 1,942 shares during the period. Smartleaf Asset Management LLC grew its position in Talos Energy by 134.4% during the second quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock worth $32,000 after buying an additional 2,123 shares during the period. Quarry LP acquired a new position in Talos Energy during the third quarter worth about $36,000. PNC Financial Services Group Inc. grew 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 buying an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in Talos Energy by 395.5% during the second quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock worth $56,000 after buying an additional 5,236 shares during the period. 89.35% of the stock is currently owned by institutional investors and hedge funds.

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.