BlackRock Inc. Makes New Investment in Talos Energy Inc. $TALO

BlackRock Inc. bought a new stake in Talos Energy Inc. (NYSE:TALO) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 19,891,604 shares of the company’s stock, valued at approximately $256,801,000. BlackRock Inc. owned 0.12% of Talos Energy as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TALO. Larson Financial Group LLC boosted its position in shares of Talos Energy by 142.9% in 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 in the last quarter. Smartleaf Asset Management LLC increased its holdings in Talos Energy by 134.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock valued at $32,000 after acquiring an additional 2,123 shares in the last quarter. Quarry LP purchased a new position in Talos Energy during the 3rd quarter valued at about $36,000. PNC Financial Services Group Inc. raised its position in Talos Energy by 22.7% during the third 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 last quarter. Finally, EverSource Wealth Advisors LLC raised 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 worth $56,000 after acquiring an additional 5,236 shares during the last quarter. Hedge funds and other institutional investors own 89.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TALO shares. Roth Capital raised shares of Talos Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $16.00 to $17.00 in a report on Wednesday, July 1st. Zacks Research upgraded Talos Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. JPMorgan Chase & Co. upped their target price on Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Citigroup lowered their target price on Talos Energy from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Finally, Weiss Ratings downgraded Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Talos Energy Price Performance

Shares of NYSE:TALO opened at $16.73 on Thursday. The company has a market cap of $2.79 billion, a P/E ratio of -7.03 and a beta of 0.35. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60. Talos Energy Inc. has a 52 week low of $8.87 and a 52 week high of $18.44. The business has a fifty day simple moving average of $14.68 and a 200-day simple moving average of $14.59.

Talos Energy (NYSE:TALO) last released its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share 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 firm had revenue of $664.81 million for the quarter, compared to the consensus estimate of $577.92 million. During the same period in the prior year, the business posted ($0.27) earnings per share. The firm’s revenue for the quarter was up 56.5% compared to the same quarter last year. Equities research analysts forecast that Talos Energy Inc. will post 1.21 EPS for the current year.

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.