Talos Energy (NYSE:TALO) Shares Gap Down – Time to Sell?

Talos Energy Inc. (NYSE:TALO) gapped down prior to trading on Monday . The stock had previously closed at $14.96, but opened at $14.00. Talos Energy shares last traded at $14.0120, with a volume of 160,890 shares.

Analyst Ratings Changes

Several brokerages have recently issued reports on TALO. Citigroup upped their target price on shares of Talos Energy from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded shares of Talos Energy from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Talos Energy from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Roth Mkm reiterated a “neutral” rating and issued a $16.00 target price (up from $13.00) on shares of Talos Energy in a research note on Wednesday, April 8th. Finally, Benchmark downgraded shares of Talos Energy from a “buy” rating to a “hold” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.67.

Talos Energy Price Performance

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 firm’s fifty day moving average price is $15.19 and its two-hundred day moving average price is $13.37. The stock has a market capitalization of $2.34 billion, a PE ratio of -3.26 and a beta of 0.33.

Talos Energy (NYSE:TALO) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, beating 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 firm had revenue of $472.31 million during the quarter, compared to analysts’ expectations of $446.39 million. During the same period in the previous year, the company earned $0.06 earnings per share. The firm’s quarterly revenue was down 7.9% on a year-over-year basis. On average, equities analysts predict that Talos Energy Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $16.80, for a total transaction of $5,704,742.40. Following the completion of the sale, the insider directly owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,935,568 shares of company stock worth $48,892,022 over the last three months. 0.36% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talos Energy

A number of hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Talos Energy by 11.8% during the first quarter. Royal Bank of Canada now owns 28,590 shares of the company’s stock worth $278,000 after acquiring an additional 3,007 shares during the last quarter. AQR Capital Management LLC grew its stake in Talos Energy by 152.1% during the first quarter. AQR Capital Management LLC now owns 90,915 shares of the company’s stock valued at $884,000 after acquiring an additional 54,854 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Talos Energy by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,196 shares of the company’s stock valued at $838,000 after acquiring an additional 3,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Talos Energy by 16.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,183,496 shares of the company’s stock valued at $21,224,000 after acquiring an additional 304,205 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Talos Energy by 132.7% during the second quarter. JPMorgan Chase & Co. now owns 386,641 shares of the company’s stock valued at $3,279,000 after acquiring an additional 220,502 shares in the last quarter. 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.