Algert Global LLC Purchases 240,490 Shares of Talos Energy Inc. $TALO

Key Points

• Algert Global increased its Talos Energy stake by 52.4% in the second quarter, acquiring 240,490 shares to bring its holdings to 699,680 shares valued at approximately $9.0 million.
• Institutional ownership remains high at 89.35%, with several other funds also increasing their positions in Talos Energy.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $18.50. Talos also exceeded quarterly earnings and revenue expectations, reporting $0.57 EPS and $664.81 million in revenue.

Algert Global LLC raised its holdings in Talos Energy Inc. (NYSE:TALO - Free Report) by 52.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 699,680 shares of the company's stock after acquiring an additional 240,490 shares during the quarter. Algert Global LLC owned approximately 0.42% of Talos Energy worth $9,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TALO. Larson Financial Group LLC raised its holdings in Talos Energy by 142.9% in the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company's stock worth $32,000 after purchasing an additional 1,942 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings 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 buying an additional 2,123 shares during the last quarter. Quarry LP purchased a new position in shares of Talos Energy in the third quarter worth about $36,000. PNC Financial Services Group Inc. lifted its holdings in Talos Energy by 22.7% in the third quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company's stock valued at $54,000 after acquiring an additional 1,049 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Talos Energy by 395.5% during the second quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company's stock worth $56,000 after buying an additional 5,236 shares during the period. Hedge funds and other institutional investors own 89.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Citigroup lowered 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 raised their target price on Talos Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Stephens reiterated an "overweight" rating and issued a $20.00 price objective on shares of Talos Energy in a research report on Wednesday, July 1st. JPMorgan Chase & Co. boosted their price target on Talos Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. Finally, Zacks Research upgraded Talos Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Talos Energy has an average rating of "Moderate Buy" and a consensus price target of $18.50.

Talos Energy Trading Up 1.4%

TALO opened at $16.73 on Thursday. Talos Energy Inc. has a 12-month low of $8.87 and a 12-month high of $18.44. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $2.79 billion, a PE ratio of -7.03 and a beta of 0.35. The firm's fifty day moving average price is $14.68 and its 200 day moving average price is $14.59.

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 (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.21. The business had revenue of $664.81 million for 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 business's revenue was up 56.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) EPS. As a group, research analysts expect that Talos Energy Inc. will post 1.21 EPS for the current fiscal year.

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.

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