Congress Asset Management Co. Buys 112,239 Shares of Talos Energy Inc. $TALO

Key Points

• Congress Asset Management increased its Talos Energy stake by 22.1%, buying 112,239 shares in the third quarter and bringing its holdings to 620,253 shares worth approximately $10.1 million.
• Institutional investors and hedge funds own 89.35% of Talos, while company insiders sold 1.65 million shares worth about $30.2 million during the latest quarter.
• Analysts maintain a “Moderate Buy” consensus with an average $19 price target, while Talos recently beat quarterly earnings expectations with $0.57 EPS and $664.8 million in revenue.

Congress Asset Management Co. boosted its position in Talos Energy Inc. (NYSE:TALO - Free Report) by 22.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 620,253 shares of the company's stock after purchasing an additional 112,239 shares during the quarter. Congress Asset Management Co. owned about 0.37% of Talos Energy worth $10,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Talos Energy during the second quarter valued at approximately $63,000. iSAM Funds UK Ltd acquired a new stake in shares of Talos Energy during the second quarter worth $138,000. Corient Private Wealth LP purchased a new stake in shares of Talos Energy in the second quarter valued at $161,000. Vise Technologies Inc. acquired a new position in Talos Energy in the second quarter valued at $215,000. Finally, State of Wyoming purchased a new position in Talos Energy during the second quarter worth about $227,000. 89.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Talos Energy news, insider John Spath sold 90,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 178,788 shares of the company's stock, valued at $3,021,517.20. This trade represents a 33.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregory Babcock sold 61,307 shares of Talos Energy stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.74, for a total transaction of $1,026,279.18. Following the sale, the insider owned 84,509 shares in the company, valued at $1,414,680.66. This represents a 42.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,652,307 shares of company stock valued at $30,201,799. Insiders own 0.51% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on TALO shares. The Goldman Sachs Group restated a "buy" rating and issued a $20.00 price target on shares of Talos Energy in a report on Monday, September 7th. Citigroup dropped their price target on shares of Talos Energy from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Weiss Ratings lowered shares of Talos Energy from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Roth Capital upgraded Talos Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $16.00 to $17.00 in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded Talos Energy from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Talos Energy currently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

Talos Energy Price Performance

TALO opened at $16.65 on Thursday. Talos Energy Inc. has a 52-week low of $8.97 and a 52-week high of $18.73. The company has a 50 day moving average of $16.47 and a two-hundred day moving average of $15.40. The company has a market cap of $2.78 billion, a P/E ratio of -7.00 and a beta of 0.42. 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 (NYSE:TALO - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.57 EPS for the quarter, beating 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 company had revenue of $664.81 million for the quarter, compared to analyst estimates of $577.92 million. During the same period last year, the company posted ($0.27) earnings per share. The firm's revenue was up 56.5% compared to the same quarter last year. On average, analysts expect 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 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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