720,119 Shares in Talos Energy Inc. $TALO Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 720,119 Talos Energy shares worth approximately $9.3 million, giving it a 0.43% stake; institutional investors collectively own 89.35% of the company.
• Talos Energy exceeded quarterly expectations, reporting $0.57 EPS versus the $0.36 consensus and $664.8 million in revenue, up 56.5% year over year.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $18.50, although two insiders recently sold a combined 151,307 shares.

Bank of New York Mellon Corp purchased a new position in Talos Energy Inc. (NYSE:TALO - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 720,119 shares of the company's stock, valued at approximately $9,297,000. Bank of New York Mellon Corp owned approximately 0.43% of Talos Energy at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Larson Financial Group LLC grew 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 acquiring an additional 1,942 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Talos Energy by 134.4% in the 2nd 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 in the last quarter. Quarry LP purchased a new stake in Talos Energy in the 3rd quarter worth $36,000. PNC Financial Services Group Inc. boosted its holdings in shares of Talos Energy by 22.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company's stock valued at $54,000 after purchasing an additional 1,049 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Talos Energy by 395.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company's stock valued at $56,000 after purchasing an additional 5,236 shares during the last quarter. 89.35% of the stock is currently owned by institutional investors.

Talos Energy Price Performance

TALO stock opened at $17.22 on Thursday. The stock has a market cap of $2.88 billion, a PE ratio of -7.24 and a beta of 0.36. The company has a 50-day moving average price of $15.00 and a 200 day moving average price of $14.74. Talos Energy Inc. has a 12 month low of $8.87 and a 12 month high of $18.44. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60.

Talos Energy (NYSE:TALO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $577.92 million. During the same period last year, the company earned ($0.27) EPS. Talos Energy's quarterly revenue was up 56.5% compared to the same quarter last year. Equities research analysts anticipate that Talos Energy Inc. will post 1.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

TALO has been the topic of several research reports. Wall Street Zen raised Talos Energy from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. Roth Capital raised Talos Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $16.00 to $17.00 in a research note on Wednesday, July 1st. Citigroup cut their price target on Talos Energy from $20.00 to $18.00 and set a "buy" rating for the company in a report on Monday, July 20th. Mizuho lifted their price objective on Talos Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upped their price objective on Talos Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Talos Energy presently has an average rating of "Moderate Buy" and an average price target of $18.50.

Insiders Place Their Bets

In other news, insider John B. Spath sold 90,000 shares of Talos Energy stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $16.90, for a total value of $1,521,000.00. Following the transaction, the insider directly owned 178,788 shares in the company, valued at approximately $3,021,517.20. This trade represents a 33.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider directly owned 84,509 shares in the company, valued at $1,414,680.66. This represents a 42.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.51% of the stock is currently owned by corporate insiders.

Talos Energy 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.

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