Principal Financial Group Inc. Sells 129,983 Shares of Talos Energy Inc. $TALO

Key Points

• Principal Financial Group reduced its Talos Energy stake by 13.4% in the first quarter, selling 129,983 shares and leaving it with 838,782 shares valued at about $13.2 million.
• Talos Energy’s most recent quarterly results beat earnings and revenue expectations, reporting a smaller-than-expected loss of $0.07 per share and revenue of $472.3 million, though both earnings and revenue were down year over year.
• Analyst sentiment on TALO is mixed: several firms have adjusted targets recently, and the stock currently carries a consensus “Hold” rating with an average price target of $18.50.

Principal Financial Group Inc. trimmed its holdings in shares of Talos Energy Inc. (NYSE:TALO - Free Report) by 13.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 838,782 shares of the company's stock after selling 129,983 shares during the quarter. Principal Financial Group Inc. owned about 0.50% of Talos Energy worth $13,219,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TALO. SG Americas Securities LLC boosted its stake in shares of Talos Energy by 292.6% during the 4th quarter. SG Americas Securities LLC now owns 268,362 shares of the company's stock worth $2,957,000 after acquiring an additional 200,000 shares in the last quarter. Tejara Capital Ltd bought a new position in shares of Talos Energy in the 4th quarter valued at approximately $2,910,000. Brookwood Investment Group LLC acquired a new stake in Talos Energy in the 4th quarter worth approximately $1,264,000. Brandywine Global Investment Management LLC lifted its holdings in Talos Energy by 338.9% in the 4th quarter. Brandywine Global Investment Management LLC now owns 389,201 shares of the company's stock worth $4,289,000 after purchasing an additional 300,518 shares during the last quarter. Finally, Atom Investors LP boosted its position in Talos Energy by 141.0% during the fourth quarter. Atom Investors LP now owns 363,999 shares of the company's stock worth $4,011,000 after purchasing an additional 212,971 shares during the period. 89.35% of the stock is currently owned by institutional investors.

Talos Energy Stock Performance

Shares of NYSE TALO opened at $14.96 on Friday. Talos Energy Inc. has a 12 month low of $7.67 and a 12 month high of $17.05. The company has a market cap of $2.50 billion, a P/E ratio of -3.47 and a beta of 0.34. The business's 50 day moving average is $14.49 and its two-hundred day moving average is $13.91. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.65.

Talos Energy (NYSE:TALO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $472.31 million during the quarter, compared to analysts' expectations of $446.39 million. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.Talos Energy's revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. On average, equities analysts expect that Talos Energy Inc. will post 0.37 EPS for the current year.

Insider Buying and Selling

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.80, for a total value of $5,704,742.40. Following the completion of the sale, the insider directly owned 40,460,036 shares of the company's stock, valued at $679,728,604.80. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TALO. KeyCorp lifted their price target on shares of Talos Energy from $15.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, April 2nd. Mizuho upped their price objective on shares of Talos Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Wednesday, May 27th. Citigroup lowered their target price on shares of Talos Energy from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday. Stephens reiterated an "overweight" rating and issued a $20.00 target price on shares of Talos Energy in a report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Talos Energy from a "buy" rating to a "hold" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Talos Energy has a consensus rating of "Hold" and an average target price 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.

Want to see what other hedge funds are holding TALO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Talos Energy Inc. (NYSE:TALO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.