Summit Global Investments Acquires New Position in Talos Energy Inc. $TALO

Summit Global Investments bought a new position in Talos Energy Inc. (NYSE:TALO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 44,892 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sourcerock Group LLC lifted its holdings in Talos Energy by 11.0% during the second 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 in the last quarter. Nuveen LLC increased its stake in shares of Talos Energy by 341.7% in the fourth quarter. Nuveen LLC now owns 1,423,138 shares of the company’s stock worth $15,683,000 after purchasing an additional 1,100,967 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Talos Energy by 2,347.6% in the fourth quarter. Federated Hermes Inc. now owns 643,231 shares of the company’s stock worth $7,088,000 after purchasing an additional 616,951 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 purchasing an additional 592,509 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Talos Energy by 61.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,506,442 shares of the company’s stock valued at $16,601,000 after purchasing an additional 572,628 shares during the period. Institutional investors own 89.35% of the company’s stock.

Insiders Place Their Bets

In related news, insider Control Empresarial De Capital sold 339,568 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 40,460,036 shares of the company’s stock, valued at approximately $679,728,604.80. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TALO shares. Roth Capital upgraded shares of Talos Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $16.00 to $17.00 in a research note on Wednesday, July 1st. Stephens reiterated an “overweight” rating and issued a $20.00 price target on shares of Talos Energy in a research note on Wednesday, July 1st. Mizuho raised their price target on Talos Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, May 27th. Wall Street Zen raised Talos Energy from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings downgraded Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Talos Energy Trading Up 2.0%

Shares of TALO opened at $15.76 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. Talos Energy Inc. has a 1 year low of $8.04 and a 1 year high of $17.05. The company has a 50 day simple moving average of $14.30 and a two-hundred day simple moving average of $14.29. The firm has a market cap of $2.63 billion, a P/E ratio of -6.62 and a beta of 0.35.

Talos Energy (NYSE:TALO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.57 earnings per share (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 firm had revenue of $664.81 million for the quarter, compared to analysts’ expectations of $577.92 million. During the same quarter last year, the business posted ($0.27) earnings per share. The company’s revenue for the quarter was up 56.5% compared to the same quarter last year. On average, equities analysts expect that Talos Energy Inc. will post 1 earnings per share for the current fiscal year.

Talos Energy 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.