Talos Energy (NYSE:TALO) Reaches New 1-Year High – Here’s Why

Talos Energy Inc. (NYSE:TALO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.05 and last traded at $17.0850, with a volume of 456724 shares. The stock had previously closed at $16.36.

Analysts Set New Price Targets

Several research analysts have issued reports on TALO shares. Weiss Ratings cut Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Talos Energy from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Citigroup decreased their target price on Talos Energy from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, July 20th. Mizuho boosted their target price on Talos Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 27th. Finally, Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of Talos Energy in a research report on Wednesday, July 1st. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.50.

Talos Energy Stock Performance

The stock has a market capitalization of $2.87 billion, a PE ratio of -7.21 and a beta of 0.35. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a 50 day moving average of $14.37 and a 200-day moving average of $14.37.

Talos Energy (NYSE:TALO) last released its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.21. The company had revenue of $664.81 million for the quarter, compared to analysts’ expectations of $577.92 million. Talos Energy had a negative return on equity of 1.94% and a negative net margin of 20.46%.The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.27) EPS. Research analysts forecast that Talos Energy Inc. will post 1 earnings per share for the current year.

Institutional Trading of Talos Energy

Several institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC increased its stake in Talos Energy by 142.9% in 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 during the period. Smartleaf Asset Management LLC boosted its stake in shares of Talos Energy by 134.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock valued at $32,000 after buying an additional 2,123 shares during the period. Quarry LP acquired a new stake in shares of Talos Energy during the 3rd quarter valued at $36,000. PNC Financial Services Group Inc. boosted its stake in shares of Talos Energy by 22.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock valued at $54,000 after buying an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of 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. 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.