568,369 Shares in Talos Energy Inc. $TALO Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 568,369 shares of Talos Energy in the second quarter, valued at approximately $7.34 million and representing about 0.34% of the company. Institutional investors and hedge funds collectively own 89.35% of TALO.
• Analysts maintain a generally positive outlook, with Talos receiving a consensus “Moderate Buy” rating and an average price target of $19.00. Recent target changes ranged from $17 to $23.
• Talos exceeded quarterly expectations, reporting $0.57 in earnings per share versus the $0.36 consensus estimate and $664.81 million in revenue, up 56.5% year over year. However, insiders sold more than 1.65 million shares worth approximately $30.2 million over the past three months.

Bank of America Corp DE acquired a new stake in Talos Energy Inc. (NYSE:TALO - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 568,369 shares of the company's stock, valued at approximately $7,338,000. Bank of America Corp DE owned about 0.34% of Talos Energy at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. De Lisle Partners LLP acquired a new stake in shares of Talos Energy during the second quarter worth $2,144,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Talos Energy by 394,736.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 300,076 shares of the company's stock worth $4,729,000 after purchasing an additional 300,000 shares during the period. Webs Creek Capital Management LP bought a new position in shares of Talos Energy in the second quarter valued at $27,039,375. Bank of New York Mellon Corp bought a new stake in Talos Energy during the 2nd quarter worth approximately $9,297,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Talos Energy in the 2nd quarter valued at $867,000. 89.35% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. KeyCorp boosted their target price on Talos Energy from $21.00 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 15th. Citigroup dropped their price objective on shares of Talos Energy from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Monday, July 20th. Wall Street Zen upgraded Talos Energy from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Roth Capital raised shares of Talos Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $16.00 to $17.00 in a research note on Wednesday, July 1st. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $20.00 target price on shares of Talos Energy in a research note on Monday, September 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $19.00.

Insiders Place Their Bets

In related news, insider John Spath sold 90,000 shares of Talos Energy stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $16.90, for a total value of $1,521,000.00. Following the sale, the insider owned 178,788 shares in the company, valued at $3,021,517.20. The trade was a 33.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Control Empresarial De Capital sold 1,381,000 shares of Talos Energy stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $18.52, for a total transaction of $25,576,120.00. Following the sale, the insider directly owned 39,079,036 shares in the company, valued at $723,743,746.72. The trade was a 3.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,652,307 shares of company stock worth $30,201,799. Insiders own 0.51% of the company's stock.

Talos Energy Price Performance

TALO opened at $16.49 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. Talos Energy Inc. has a 1 year low of $8.97 and a 1 year high of $18.73. The stock's 50 day simple moving average is $16.14 and its 200 day simple moving average is $15.24. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of -6.93 and a beta of 0.36.

Talos Energy (NYSE:TALO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.21. Talos Energy had a negative net margin of 20.46% and a negative return on equity of 1.94%. The business had revenue of $664.81 million during the quarter, compared to analysts' expectations of $577.92 million. During the same quarter in the prior year, the company posted ($0.27) EPS. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year. As a group, analysts predict that Talos Energy Inc. will post 1.4 earnings per share for the current year.

Talos Energy Profile

Talos Energy Inc is an independent energy company focused on the exploration, development and production of oil and natural gas. The company's upstream operations are concentrated in the U.S. Gulf of Mexico, where it owns and operates offshore properties and produces crude oil, natural gas and natural gas liquids.

Talos also operates a low-carbon business focused on carbon capture and sequestration. Through this business, the company evaluates and develops projects designed to capture carbon dioxide from industrial facilities and permanently store it in suitable underground geologic formations, particularly along the U.S.

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