Citigroup Issues Positive Forecast for Talos Energy (NYSE:TALO) Stock Price

Key Points

• Citigroup raised Talos Energy’s price target from $18 to $21 and maintained a “buy” rating, implying 24.11% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports an average rating of “Moderate Buy” and a consensus price target of $19.43, while several firms recently upgraded or raised their targets.
• Talos reported quarterly EPS of $0.57, exceeding the $0.36 estimate, and revenue of $664.81 million, up 56.5% year over year. However, insiders sold 8.37 million shares worth approximately $145.2 million over the past 90 days.

Talos Energy (NYSE:TALO - Get Free Report) had its price objective raised by equities research analysts at Citigroup from $18.00 to $21.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 24.11% from the company's previous close.

Several other equities analysts have also recently weighed in on TALO. Zacks Research raised Talos Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. Roth Capital upgraded 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 research report on Wednesday, July 1st. Stephens reissued an "overweight" rating and issued a $20.00 price objective on shares of Talos Energy in a research note on Wednesday, July 1st. KeyCorp raised their price objective on shares of Talos Energy from $21.00 to $23.00 and gave the company an "overweight" rating in a research note on Tuesday, September 15th. Finally, Wall Street Zen upgraded Talos Energy from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $19.43.

Talos Energy Stock Down 0.6%

Shares of TALO stock traded down $0.11 during trading on Thursday, reaching $16.92. The company's stock had a trading volume of 1,839,075 shares, compared to its average volume of 2,187,641. The business has a fifty day moving average price of $16.72 and a 200-day moving average price of $15.44. 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 has a one year low of $8.97 and a one year high of $18.73. The company has a market cap of $2.83 billion, a price-to-earnings ratio of -7.09 and a beta of 0.42.

Talos Energy (NYSE:TALO - Get Free Report) last posted its quarterly 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 analyst estimates of $577.92 million. During the same quarter in the previous year, the firm earned ($0.27) EPS. The business's quarterly revenue was up 56.5% on a year-over-year basis. Analysts anticipate that Talos Energy will post 1.40 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Gregory Babcock sold 61,307 shares of Talos Energy stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $16.74, for a total transaction of $1,026,279.18. Following the completion of the sale, the insider owned 84,509 shares of the company's stock, valued at approximately $1,414,680.66. This trade represents a 42.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William Moss, III sold 120,000 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $17.32, for a total value of $2,078,400.00. Following the transaction, the insider owned 305,117 shares of the company's stock, valued at approximately $5,284,626.44. The trade was a 28.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 8,372,307 shares of company stock worth $145,180,299. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talos Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Talos Energy in the second quarter valued at about $63,000. Fortitude Family Office LLC raised its stake in shares of Talos Energy by 8,502.0% during the third quarter. Fortitude Family Office LLC now owns 4,387 shares of the company's stock valued at $72,000 after acquiring an additional 4,336 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Talos Energy during the second quarter worth about $138,000. Farther Finance Advisors LLC boosted its holdings in shares of Talos Energy by 317.7% during the third quarter. Farther Finance Advisors LLC now owns 9,052 shares of the company's stock worth $148,000 after purchasing an additional 6,885 shares during the period. Finally, Corient Private Wealth LP purchased a new stake in shares of Talos Energy during the second quarter worth about $161,000. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

About Talos Energy

Talos Energy Inc is an independent energy company engaged primarily in the exploration, development and production of oil and natural gas. The company focuses on offshore assets in the U.S. Gulf of Mexico, where it operates and holds interests in producing fields and prospective exploration acreage.

Talos uses seismic data, drilling and reservoir-management techniques to identify and develop hydrocarbon resources. Its operations are concentrated in the Gulf of Mexico region, with activities spanning exploration, field development, production and related infrastructure.

Founded in 2012, Talos became a publicly traded company in 2018 through its combination with Stone Energy Corporation.

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