Pinnacle Holdings LLC Acquires New Holdings in Talos Energy Inc. $TALO

Key Points

• Pinnacle Holdings LLC acquired 123,880 Talos Energy shares worth approximately $1.6 million in the second quarter, representing about 0.07% ownership. Institutional investors collectively own 89.35% of the company.
• Talos Energy reported quarterly EPS of $0.57, exceeding the $0.36 analyst consensus, while revenue rose 56.5% year over year to $664.81 million. Despite the stronger results, the company posted a negative net margin of 20.46%.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $18.50, compared with the stock’s reported price of $17.49.

Pinnacle Holdings LLC bought a new stake in Talos Energy Inc. (NYSE:TALO - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 123,880 shares of the company's stock, valued at approximately $1,599,000. Pinnacle Holdings LLC owned about 0.07% of Talos Energy as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Talos Energy during the 2nd quarter valued at $256,801,000. Sourcerock Group LLC increased its position in Talos Energy by 11.0% during the second quarter. Sourcerock Group LLC now owns 11,193,177 shares of the company's stock worth $94,918,000 after buying an additional 1,110,685 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Talos Energy by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,468,553 shares of the company's stock valued at $149,234,000 after buying an additional 501,552 shares in the last quarter. Geode Capital Management LLC raised its holdings in Talos Energy by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 3,055,968 shares of the company's stock valued at $33,682,000 after buying an additional 141,518 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Talos Energy by 25.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,965,543 shares of the company's stock valued at $28,440,000 after buying an additional 592,509 shares in the last quarter. 89.35% of the stock is owned by institutional investors.

Talos Energy Stock Performance

NYSE:TALO opened at $17.49 on Monday. The firm has a market capitalization of $2.92 billion, a PE ratio of -7.35 and a beta of 0.35. Talos Energy Inc. has a 1 year low of $8.71 and a 1 year 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. The firm's fifty day simple moving average is $14.51 and its 200 day simple moving average is $14.49.

Talos Energy (NYSE:TALO - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $664.81 million during the quarter, compared to analyst estimates of $577.92 million. During the same quarter in the previous year, the business earned ($0.27) EPS. The business's revenue was up 56.5% on a year-over-year basis. On average, sell-side analysts anticipate that Talos Energy Inc. will post 1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup decreased their price target on Talos Energy from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, July 20th. 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. Weiss Ratings downgraded Talos Energy from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Roth Capital upgraded Talos Energy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $16.00 to $17.00 in a report on Wednesday, July 1st. Finally, Zacks Research raised Talos Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.50.

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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