Talos Energy (NYSE:TALO) Shares Up 5.6% – Time to Buy?

Talos Energy Inc. (NYSE:TALO) rose 5.6% on Wednesday . The stock traded as high as $14.29 and last traded at $14.3480. Approximately 401,829 shares traded hands during trading, a decline of 81% from the average session volume of 2,165,727 shares. The stock had previously closed at $13.59.

Analyst Ratings Changes

Several research firms have issued reports on TALO. Roth Capital upgraded shares of Talos Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.00 to $17.00 in a research note on Wednesday, July 1st. Stephens reiterated an “overweight” rating and issued a $20.00 target price on shares of Talos Energy in a research note on Wednesday, July 1st. Wall Street Zen lowered Talos Energy from a “buy” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings downgraded shares of Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. raised their price objective 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. Four investment 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $18.83.

Talos Energy Stock Performance

The stock’s 50-day moving average price is $14.71 and its 200-day moving average price is $13.67. 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 company has a market capitalization of $2.24 billion, a price-to-earnings ratio of -3.11 and a beta of 0.34.

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 analysts’ consensus estimates of ($0.11) by $0.04. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.The business had revenue of $472.31 million for the quarter, compared to analysts’ expectations of $446.39 million. During the same quarter in the prior year, the firm posted $0.06 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. As a group, equities research analysts expect that Talos Energy Inc. will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital sold 339,568 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $16.80, for a total value of $5,704,742.40. Following the completion of the transaction, the insider owned 40,460,036 shares in the company, 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 filing with the SEC, which is available through the SEC website. Company insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On Talos Energy

Several hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC raised its stake in Talos Energy by 20.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,243 shares of the company’s stock worth $59,000 after purchasing an additional 884 shares during the period. Larson Financial Group LLC grew its position in Talos Energy by 28.4% during the fourth quarter. Larson Financial Group LLC now owns 4,240 shares of the company’s stock valued at $47,000 after acquiring an additional 939 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of 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 purchasing an additional 1,049 shares during the period. US Bancorp DE raised its holdings in Talos Energy by 17.4% in the third quarter. US Bancorp DE now owns 7,089 shares of the company’s stock valued at $68,000 after buying an additional 1,050 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Talos Energy by 3.5% in the first quarter. Bleakley Financial Group LLC now owns 44,827 shares of the company’s stock valued at $706,000 after buying an additional 1,507 shares during the period. Hedge funds and other institutional investors 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.