Talos Energy (NYSE:TALO) Shares Gap Up – What’s Next?

Talos Energy Inc. (NYSE:TALO) shares gapped up before the market opened on Wednesday . The stock had previously closed at $12.91, but opened at $13.76. Talos Energy shares last traded at $13.7850, with a volume of 481,183 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TALO. Wall Street Zen cut Talos Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings lowered Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 23rd. Stephens reiterated an “overweight” rating and set a $20.00 price objective on shares of Talos Energy in a research report on Wednesday. Roth Mkm raised Talos Energy from a “buy” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Wednesday. Finally, Benchmark cut Talos Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.83.

Talos Energy Trading Up 3.9%

The firm has a market capitalization of $2.24 billion, a PE ratio of -3.12 and a beta of 0.33. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $13.54.

Talos Energy (NYSE:TALO) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $446.39 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was down 7.9% on a year-over-year basis. On average, sell-side analysts predict that Talos Energy Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital sold 339,568 shares of Talos Energy stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $16.80, for a total transaction of $5,704,742.40. Following the transaction, the insider directly owned 40,460,036 shares in the company, valued at approximately $679,728,604.80. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.36% of the company’s stock.

Institutional Trading of Talos Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC grew its stake 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 valued at $32,000 after acquiring an additional 1,942 shares during the period. Smartleaf Asset Management LLC increased its holdings in 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 acquiring an additional 2,123 shares in the last quarter. Quarry LP bought a new stake in Talos Energy during the 3rd quarter worth approximately $36,000. PNC Financial Services Group Inc. raised its stake in Talos Energy by 22.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock worth $54,000 after acquiring an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 5,236 shares in the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

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.