Talos Energy (NYSE:TALO) Shares Up 6.6% – Here’s What Happened

Talos Energy Inc. (NYSE:TALO)’s share price shot up 6.6% on Monday . The company traded as high as $15.24 and last traded at $15.3350. 143,454 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 2,150,395 shares. The stock had previously closed at $14.38.

Analysts Set New Price Targets

TALO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Talos Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Roth Capital upgraded Talos Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $17.00 in a research report on Wednesday, July 1st. Stephens restated an “overweight” rating and set a $20.00 price objective on shares of Talos Energy in a report on Wednesday, July 1st. Mizuho upped their target price on Talos Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings lowered Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.50.

Talos Energy Stock Up 8.4%

The company has a market capitalization of $2.60 billion, a P/E ratio of -6.54 and a beta of 0.35. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average price of $14.24 and a 200 day moving average price of $14.16.

Talos Energy (NYSE:TALO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.21. The company had revenue of $664.81 million during the quarter, compared to the consensus estimate of $577.92 million. Talos Energy had a negative return on equity of 1.94% and a negative net margin of 20.46%.The firm’s revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.27) earnings per share. On average, research analysts anticipate that Talos Energy Inc. will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Control Empresarial De Capital sold 339,568 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.80, for a total value of $5,704,742.40. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Talos Energy

A number of hedge funds have recently added to or reduced their stakes in TALO. BlackRock Inc. bought a new stake in Talos Energy in the 2nd quarter valued at about $256,801,000. Deutsche Bank AG bought a new position in shares of Talos Energy in the second quarter valued at approximately $2,386,000. Bank of New York Mellon Corp purchased a new stake in shares of Talos Energy during the 2nd quarter valued at $9,297,000. State of Wyoming bought a new stake in Talos Energy in the second quarter worth about $227,000. Finally, Summit Global Investments bought a new position in Talos Energy during the second quarter valued at $580,000. 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.