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 stock traded as high as $15.75 and last traded at $15.7180. Approximately 597,107 shares changed hands during mid-day 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

TALO has been the topic of several recent research reports. Wall Street Zen raised shares of Talos Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings raised shares of Talos Energy from a “sell (d-)” rating to a “sell (d+)” rating in a report on Thursday, May 7th. Mizuho upped 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. JPMorgan Chase & Co. increased their price target 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. Finally, KeyCorp lifted their price target on Talos Energy from $15.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, April 2nd. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.67.

Talos Energy Stock Performance

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

Talos Energy (NYSE:TALO) last announced its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The business 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 quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm posted $0.06 earnings per share. As a group, sell-side analysts forecast that Talos Energy Inc. will post 0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 339,568 shares of the firm’s stock in a transaction that occurred on 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 directly owned 40,460,036 shares of the company’s stock, valued at $679,728,604.80. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 2,935,568 shares of company stock valued at $48,892,022 over the last quarter. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TALO. Royal Bank of Canada raised its position in Talos Energy by 11.8% in the 1st quarter. Royal Bank of Canada now owns 28,590 shares of the company’s stock worth $278,000 after purchasing an additional 3,007 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Talos Energy by 152.1% during the 1st quarter. AQR Capital Management LLC now owns 90,915 shares of the company’s stock valued at $884,000 after buying an additional 54,854 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Talos Energy by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,196 shares of the company’s stock valued at $838,000 after buying an additional 3,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Talos Energy by 16.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,183,496 shares of the company’s stock valued at $21,224,000 after buying an additional 304,205 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Talos Energy by 132.7% in the second quarter. JPMorgan Chase & Co. now owns 386,641 shares of the company’s stock worth $3,279,000 after buying an additional 220,502 shares during the last quarter. 89.35% of the stock is owned by hedge funds and other institutional investors.

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.