Talos Energy (NYSE:TALO) Raised to Strong-Buy at Zacks Research

Talos Energy (NYSE:TALO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

TALO has been the topic of several other research reports. Stephens restated an “overweight” rating and set a $20.00 price objective on shares of Talos Energy in a research report on Wednesday, July 1st. Mizuho increased their price objective on Talos Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded Talos Energy from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Finally, Citigroup dropped their target price on shares of Talos Energy from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Talos Energy Stock Down 0.4%

TALO stock opened at $15.50 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $14.28 and its 200 day moving average is $14.25. The stock has a market cap of $2.59 billion, a price-to-earnings ratio of -6.51 and a beta of 0.35. Talos Energy has a 1-year low of $8.01 and a 1-year high of $17.05.

Talos Energy (NYSE:TALO) last announced its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share 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 for the quarter, compared to the consensus estimate of $577.92 million. During the same period last year, the firm posted ($0.27) earnings per share. Talos Energy’s quarterly revenue was up 56.5% on a year-over-year basis. Sell-side analysts predict that Talos Energy will post 1 EPS for the current fiscal year.

Insider Activity at Talos Energy

In related news, insider Control Empresarial De Capital sold 339,568 shares of Talos Energy stock in a transaction dated 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 completion of the transaction, the insider directly owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in Talos Energy in the second quarter worth about $256,801,000. Sourcerock Group LLC increased its position in shares of Talos Energy by 11.0% during the second quarter. Sourcerock Group LLC now owns 11,193,177 shares of the company’s stock worth $94,918,000 after purchasing an additional 1,110,685 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Talos Energy by 5.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,468,553 shares of the company’s stock worth $149,234,000 after buying an additional 501,552 shares during the period. Geode Capital Management LLC raised its holdings in shares of Talos Energy by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 3,055,968 shares of the company’s stock valued at $33,682,000 after buying an additional 141,518 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Talos Energy by 25.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,965,543 shares of the company’s stock valued at $28,440,000 after acquiring an additional 592,509 shares during the period. Hedge funds and other institutional investors 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.