Talos Energy (NYSE:TALO) Reaches New 12-Month High - Here's Why

Key Points

• Talos Energy shares reached a new 52-week high, trading around $18.51 after rising 4.7%; the stock’s analyst consensus remains “Moderate Buy” with a $19 price target.
• The company exceeded quarterly expectations, reporting $0.57 in earnings per share versus the $0.36 consensus and $664.81 million in revenue, up 56.5% year over year.
• Institutional ownership is substantial at 89.35%, while company insiders sold 271,307 shares worth approximately $4.6 million over the past 90 days.

Talos Energy Inc. (NYSE:TALO - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $18.46 and last traded at $18.51, with a volume of 157737 shares. The stock had previously closed at $17.66.

Analyst Ratings Changes

A number of research firms have recently issued reports on TALO. Zacks Research upgraded Talos Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded Talos Energy from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Citigroup lowered their price objective on Talos Energy from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Monday, July 20th. Weiss Ratings cut Talos Energy from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. Finally, Stephens reaffirmed an "overweight" rating and issued a $20.00 target price on shares of Talos Energy in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Talos Energy Stock Up 4.7%

The firm has a 50-day moving average of $15.63 and a two-hundred day moving average of $14.97. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3.09 billion, a PE ratio of -7.80 and a beta of 0.36.

Talos Energy (NYSE:TALO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.21. The company 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 in the previous year, the business earned ($0.27) earnings per share. Equities research analysts predict that Talos Energy Inc. will post 1.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Talos Energy news, insider John Spath sold 90,000 shares of Talos Energy stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $16.90, for a total transaction of $1,521,000.00. Following the completion of the sale, the insider directly owned 178,788 shares in the company, 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 at the SEC website. Also, insider Gregory Babcock sold 61,307 shares of Talos Energy stock in a transaction dated 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 of the company's stock, valued at approximately $1,414,680.66. This represents a 42.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 271,307 shares of company stock valued at $4,625,679 over the last 90 days. 0.51% of the stock is owned by company insiders.

Institutional Trading of Talos Energy

Institutional investors have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd raised its position in Talos Energy by 1,717.7% in the second quarter. WINTON GROUP Ltd now owns 223,579 shares of the company's stock valued at $2,886,000 after purchasing an additional 211,279 shares during the period. Squarepoint Ops LLC acquired a new position in Talos Energy during the second quarter worth $2,224,000. Corient Private Wealth LP purchased a new position in shares of Talos Energy during the second quarter worth $161,000. Amundi boosted its position in shares of Talos Energy by 1.1% during the second quarter. Amundi now owns 57,590 shares of the company's stock worth $743,000 after buying an additional 613 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Talos Energy by 1,039.0% in the second quarter. California State Teachers Retirement System now owns 1,827,475 shares of the company's stock valued at $23,593,000 after buying an additional 1,667,033 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company's stock.

Talos Energy Company Profile

Talos Energy Inc is an independent energy company focused on the exploration, development and production of oil and natural gas. The company's upstream operations are concentrated in the U.S. Gulf of Mexico, where it owns and operates offshore properties and produces crude oil, natural gas and natural gas liquids.

Talos also operates a low-carbon business focused on carbon capture and sequestration. Through this business, the company evaluates and develops projects designed to capture carbon dioxide from industrial facilities and permanently store it in suitable underground geologic formations, particularly along the U.S.

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