Talos Energy (NYSE:TALO) Stock Rating Upgraded by Zacks Research

Talos Energy (NYSE:TALO) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other research firms have also weighed in on TALO. Stephens reissued an “overweight” rating and issued a $20.00 price objective on shares of Talos Energy in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their target price on shares of Talos Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Weiss Ratings cut shares of Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Citigroup cut their price target on Talos Energy from $20.00 to $18.00 and set a “buy” rating for the company in a report on Monday, July 20th. Finally, Wall Street Zen upgraded Talos Energy from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Talos Energy Trading Down 0.4%

Talos Energy stock opened at $15.50 on Tuesday. The stock has a market cap of $2.59 billion, a PE ratio of -6.51 and a beta of 0.35. The stock has a 50-day moving average price of $14.28 and a 200 day moving average price of $14.25. Talos Energy has a 52 week low of $8.01 and a 52 week high of $17.05. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60.

Talos Energy (NYSE:TALO) last announced its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.21. The firm had revenue of $664.81 million during the quarter, compared to the consensus estimate of $577.92 million. Talos Energy had a negative net margin of 20.46% and a negative return on equity of 1.94%. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.27) EPS. Equities research analysts predict that Talos Energy will post 1 earnings per share for the current fiscal year.

Insider Transactions at Talos Energy

In related news, insider Control Empresarial De Capital sold 339,568 shares of the company’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 transaction of $5,704,742.40. Following the completion of the transaction, the insider owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Talos Energy

A number of hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its holdings in shares of 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 buying an additional 1,942 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Talos Energy by 134.4% in the 2nd 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 in the third quarter valued at $36,000. PNC Financial Services Group Inc. boosted its holdings in 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 acquiring an additional 1,049 shares during the last quarter. 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 valued at $56,000 after acquiring an additional 5,236 shares during the period. Institutional investors and hedge funds 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.