Talos Energy (NYSE:TALO) Shares Gap Up – Here’s Why

Talos Energy Inc. (NYSE:TALO)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $11.25, but opened at $11.73. Talos Energy shares last traded at $11.53, with a volume of 215,968 shares changing hands.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TALO shares. Citigroup restated a “buy” rating on shares of Talos Energy in a research note on Friday. Mizuho raised their target price on Talos Energy from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Wall Street Zen lowered Talos Energy from a “hold” rating to a “sell” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Talos Energy in a report on Monday, December 29th. Finally, KeyCorp raised their price objective on Talos Energy from $12.00 to $13.50 and gave the company an “overweight” rating in a research note on Friday, December 5th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $14.25.

Talos Energy Stock Up 2.2%

The firm has a market cap of $1.96 billion, a P/E ratio of -5.71 and a beta of 0.57. The firm’s 50-day moving average price is $11.19 and its 200 day moving average price is $9.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.27 and a quick ratio of 1.27.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Virtus Fixed Income Advisers LLC acquired a new stake in shares of Talos Energy during the 2nd quarter valued at approximately $25,000. Larson Financial Group LLC increased its stake in Talos Energy by 142.9% during the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock valued at $32,000 after purchasing an additional 1,942 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Talos Energy by 134.4% during the second quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock worth $32,000 after purchasing an additional 2,123 shares during the period. Quarry LP bought a new position in shares of Talos Energy in the 3rd quarter worth about $36,000. Finally, CWM LLC boosted its holdings in shares of Talos Energy by 186.3% in the 2nd quarter. CWM LLC now owns 6,027 shares of the company’s stock valued at $51,000 after buying an additional 3,922 shares during the period. Institutional investors and hedge funds 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.