Talos Energy (NYSE:TALO) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Talos Energy from “hold” to “strong buy,” while other analysts issued mixed views; the stock’s consensus rating is “Moderate Buy” with an average target price of $18.50.
• Talos reported quarterly EPS of $0.57, beating the $0.36 consensus estimate, while revenue rose 56.5% year over year to $664.81 million.
• Shares opened at $15.50, near the upper half of their 52-week range, and institutional investors own approximately 89.35% of Talos Energy’s stock.

Talos Energy (NYSE:TALO - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen raised shares of Talos Energy from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. Mizuho raised their price target on shares of Talos Energy from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Wednesday, May 27th. Weiss Ratings lowered Talos Energy from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Roth Capital raised Talos Energy from a "neutral" rating to a "buy" rating and increased their target price for the stock from $16.00 to $17.00 in a research note on Wednesday, July 1st. Finally, Stephens restated an "overweight" rating and set a $20.00 target price on shares of Talos Energy in a report on Wednesday, July 1st. One 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. According to data from MarketBeat.com, Talos Energy has an average rating of "Moderate Buy" and an average target price of $18.50.

Talos Energy Price Performance

NYSE:TALO opened at $15.50 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market cap of $2.59 billion, a P/E ratio of -6.51 and a beta of 0.35. The firm's fifty day moving average price is $14.28 and its two-hundred day moving average price is $14.25. Talos Energy has a one year low of $8.01 and a one year high of $17.05.

Talos Energy (NYSE:TALO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $577.92 million. During the same quarter in the prior year, the business earned ($0.27) earnings per share. The firm's revenue for the quarter was up 56.5% on a year-over-year basis. Equities analysts expect that Talos Energy will post 1 earnings per share for the current year.

Insider Activity

In other news, insider Control Empresarial De Capital sold 339,568 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.80, for a total transaction of $5,704,742.40. Following the completion of the sale, the insider owned 40,460,036 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talos Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Talos Energy during the 2nd quarter worth approximately $256,801,000. Sourcerock Group LLC grew its stake in Talos Energy by 11.0% in the 2nd quarter. Sourcerock Group LLC now owns 11,193,177 shares of the company's stock valued at $94,918,000 after purchasing an additional 1,110,685 shares during the period. Nuveen LLC increased its holdings in Talos Energy by 341.7% during the fourth quarter. Nuveen LLC now owns 1,423,138 shares of the company's stock worth $15,683,000 after buying an additional 1,100,967 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Talos Energy in the second quarter valued at about $12,875,000. Finally, Bank of New York Mellon Corp purchased a new position in Talos Energy in the second quarter valued at about $9,297,000. 89.35% of the stock is currently owned by institutional investors and hedge funds.

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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