Royal Bank of Canada Sells 70,193 Shares of Talos Energy Inc. $TALO

Key Points

• Royal Bank of Canada reduced its Talos Energy stake by 16.4%, selling 70,193 shares in the first quarter and retaining 357,292 shares worth approximately $5.63 million. Institutional investors collectively own 89.35% of the company.
• Talos Energy reported quarterly EPS of $0.57, beating estimates of $0.36, while revenue rose 56.5% year over year to $664.81 million. The stock recently traded at $15.50, below the analyst consensus price target of $18.50.
• Analyst sentiment remains mixed, with four Buy, three Hold, and one Sell rating, resulting in a consensus rating of Hold. An insider also sold 339,568 shares for about $5.7 million in May.

Royal Bank of Canada trimmed its position in Talos Energy Inc. (NYSE:TALO - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 357,292 shares of the company's stock after selling 70,193 shares during the period. Royal Bank of Canada owned about 0.21% of Talos Energy worth $5,631,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Tejara Capital Ltd bought a new position in shares of Talos Energy during the fourth quarter worth $2,910,000. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Talos Energy by 394,736.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 300,076 shares of the company's stock valued at $4,729,000 after buying an additional 300,000 shares in the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Talos Energy by 338.9% in the 4th quarter. Brandywine Global Investment Management LLC now owns 389,201 shares of the company's stock valued at $4,289,000 after buying an additional 300,518 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Talos Energy by 22.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 459,477 shares of the company's stock worth $7,241,000 after buying an additional 85,450 shares during the period. Finally, Atom Investors LP raised its stake in Talos Energy by 141.0% during the 4th quarter. Atom Investors LP now owns 363,999 shares of the company's stock worth $4,011,000 after buying an additional 212,971 shares during the period. 89.35% of the stock is currently owned by institutional investors.

Talos Energy Price Performance

Shares of NYSE TALO opened at $15.50 on Thursday. The firm has a market cap of $2.59 billion, a PE ratio of -6.51 and a beta of 0.35. 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 Inc. has a 1-year low of $8.01 and a 1-year high of $17.05. The company has a fifty day moving average price of $14.28 and a 200 day moving average price of $14.25.

Talos Energy (NYSE:TALO - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.21. The firm 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 company's revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) EPS. Research analysts predict that Talos Energy Inc. will post 1 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Control Empresarial De Capital sold 339,568 shares of Talos Energy stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.80, for a total value of $5,704,742.40. Following the sale, the insider owned 40,460,036 shares of the company's stock, valued at approximately $679,728,604.80. This trade represents a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

TALO has been the subject of a number of research analyst reports. Weiss Ratings cut Talos Energy from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Mizuho raised their price target on Talos Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. Stephens reiterated an "overweight" rating and set a $20.00 price objective on shares of Talos Energy in a report on Wednesday, July 1st. Citigroup decreased their price objective on Talos Energy from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. raised their target price on shares of Talos Energy from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $18.50.

Talos Energy Company 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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