Talos Energy (NYSE:TALO) Trading 5.8% Higher - Here's What Happened

Key Points

• Talos Energy shares rose 5.8% to $18.17, reaching an intraday high of $18.44, although trading volume was 84% below the average session volume.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $18.50; recent upgrades included Zacks Research and Wall Street Zen.
• Talos beat quarterly expectations with $0.57 in EPS versus a $0.36 consensus estimate and revenue of $664.81 million, up 56.5% year over year. Institutional investors own approximately 89.35% of the company’s stock.

Talos Energy Inc. (NYSE:TALO - Get Free Report)'s share price rose 5.8% during trading on Thursday . The stock traded as high as $18.44 and last traded at $18.1740. 329,849 shares traded hands during trading, a decline of 84% from the average session volume of 2,124,520 shares. The stock had previously closed at $17.17.

Analyst Ratings Changes

Several brokerages recently weighed in on TALO. Zacks Research upgraded shares of Talos Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Talos Energy from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of Talos Energy from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 8th. Stephens reaffirmed an "overweight" rating and set a $20.00 price target on shares of Talos Energy in a report on Wednesday, July 1st. Finally, Mizuho boosted their price objective on Talos Energy from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

Talos Energy Stock Performance

The firm's 50-day moving average price is $14.40 and its two-hundred day moving average price is $14.41. 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 firm has a market capitalization of $3.01 billion, a PE ratio of -7.59 and a beta of 0.35.

Talos Energy (NYSE:TALO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate 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 business had revenue of $664.81 million during the quarter, compared to the consensus estimate of $577.92 million. During the same quarter in the prior year, the firm earned ($0.27) EPS. The firm's quarterly revenue was up 56.5% on a year-over-year basis. As a group, research analysts predict that Talos Energy Inc. will post 1 earnings per share for the current fiscal year.

Institutional Trading of Talos Energy

Several hedge funds and other institutional investors have recently modified their holdings of TALO. Larson Financial Group LLC raised its position in Talos Energy by 142.9% during the third 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 during the period. Smartleaf Asset Management LLC lifted 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 acquiring an additional 2,123 shares in the last quarter. Quarry LP acquired a new stake in Talos Energy during the 3rd quarter worth about $36,000. PNC Financial Services Group Inc. boosted its position in Talos Energy by 22.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company's stock worth $54,000 after acquiring an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Talos Energy by 395.5% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 89.35% of the company's stock.

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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