Talos Energy (NYSE:TALO) Issues Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Key Points

• Talos Energy reported quarterly EPS of $0.54, exceeding the consensus estimate of $0.37 by $0.17, although the company posted a negative net margin of 42.58% and negative ROE of 8.24%.
• Shares fell $0.60 to $14.27 during Tuesday trading, while the stock remains below the consensus analyst price target of $18.50. Analysts’ overall rating is “Hold,” with four Buy, three Hold, and one Sell rating.
• Insider Control Empresarial De Capital sold 339,568 shares for approximately $5.7 million, while institutional investors own 89.35% of Talos Energy’s outstanding stock.

Talos Energy (NYSE:TALO - Get Free Report) announced its earnings results on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.17, Zacks reports. Talos Energy had a negative net margin of 42.58% and a negative return on equity of 8.24%.

Talos Energy Stock Performance

Talos Energy stock traded down $0.60 during midday trading on Tuesday, hitting $14.27. The stock had a trading volume of 2,537,209 shares, compared to its average volume of 2,152,878. Talos Energy has a 52-week low of $7.67 and a 52-week high of $17.05. The company has a market capitalization of $2.38 billion, a PE ratio of -3.31 and a beta of 0.35. The firm's fifty day moving average is $14.28 and its two-hundred day moving average is $14.09. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.65.

Analysts Set New Price Targets

TALO has been the topic of several analyst reports. Weiss Ratings cut shares of Talos Energy from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, June 23rd. Wall Street Zen downgraded shares of Talos Energy from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Stephens restated an "overweight" rating and issued a $20.00 price objective on shares of Talos Energy in a research note on Wednesday, July 1st. Roth Capital raised Talos Energy from a "neutral" rating to a "buy" rating and raised their target price for the stock from $16.00 to $17.00 in a report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lifted their target price on Talos Energy from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.50.

Insiders Place Their Bets

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

Institutional Trading of Talos Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in shares of Talos Energy by 142.9% during the 3rd quarter. Larson Financial Group LLC now owns 3,301 shares of the company's stock valued at $32,000 after buying an additional 1,942 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Talos Energy by 134.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company's stock worth $32,000 after buying an additional 2,123 shares in the last quarter. Quarry LP purchased a new stake in Talos Energy in the 3rd quarter worth $36,000. PNC Financial Services Group Inc. raised its holdings in Talos Energy by 22.7% during the third quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company's stock valued at $54,000 after acquiring an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Talos Energy by 395.5% during the second quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company's stock valued at $56,000 after acquiring an additional 5,236 shares during the period. 89.35% of the stock is currently owned by institutional investors.

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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