John Spath Sells 90,000 Shares of Talos Energy (NYSE:TALO) Stock

Talos Energy Inc. (NYSE:TALO) insider John Spath sold 90,000 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.90, for a total value of $1,521,000.00. Following the completion of the sale, the insider owned 178,788 shares of the company’s stock, valued at $3,021,517.20. The trade was a 33.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Talos Energy Trading Up 3.5%

TALO traded up $0.58 during trading on Monday, hitting $17.25. 1,710,300 shares of the stock traded hands, compared to its average volume of 2,117,675. The firm has a market capitalization of $2.88 billion, a P/E ratio of -7.25 and a beta of 0.35. The firm has a 50-day moving average of $14.80 and a 200 day moving average of $14.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. Talos Energy Inc. has a 12-month low of $8.87 and a 12-month high of $18.44.

Talos Energy (NYSE:TALO) last posted its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.21. Talos Energy had a negative return on equity of 1.94% and a negative net margin of 20.46%.The company had revenue of $664.81 million for the quarter, compared to analysts’ expectations of $577.92 million. During the same period last year, the firm earned ($0.27) earnings per share. Talos Energy’s quarterly revenue was up 56.5% on a year-over-year basis. Equities research analysts anticipate that Talos Energy Inc. will post 1.21 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TALO shares. Stephens reissued an “overweight” rating and set a $20.00 target price on shares of Talos Energy in a research note on Wednesday, July 1st. Roth Capital raised shares of Talos Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $17.00 in a research report on Wednesday, July 1st. Zacks Research raised shares of Talos Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. Citigroup cut their target price on shares of Talos Energy from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded shares of Talos Energy from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.50.

Institutional Investors Weigh In On Talos Energy

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Talos Energy during the second quarter valued at $256,801,000. Canada Pension Plan Investment Board purchased a new stake in shares of Talos Energy in the 2nd quarter worth about $51,874,000. Webs Creek Capital Management LP purchased a new stake in shares of Talos Energy in the 2nd quarter worth about $27,039,375. California State Teachers Retirement System increased its stake in shares of Talos Energy by 1,039.0% in the 2nd quarter. California State Teachers Retirement System now owns 1,827,475 shares of the company’s stock worth $23,593,000 after acquiring an additional 1,667,033 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Talos Energy in the 2nd quarter worth about $16,280,000. 89.35% of the stock is currently owned by institutional investors.

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.