The Manufacturers Life Insurance Company Acquires New Position in Talos Energy Inc. $TALO

The Manufacturers Life Insurance Company acquired a new position in shares of Talos Energy Inc. (NYSE:TALO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 67,119 shares of the company’s stock, valued at approximately $867,000.

A number of other large investors have also recently bought and sold shares of TALO. Larson Financial Group LLC grew its holdings in shares of 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 purchasing an additional 1,942 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 2,123 shares during the last quarter. Quarry LP bought a new stake in shares of Talos Energy in the 3rd quarter worth approximately $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 valued at $54,000 after purchasing an additional 1,049 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position 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 purchasing an additional 5,236 shares during the period. Institutional investors own 89.35% of the company’s stock.

Insider Activity at Talos Energy

In other Talos Energy news, insider John B. Spath sold 90,000 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $16.90, for a total transaction of $1,521,000.00. Following the sale, the insider directly owned 178,788 shares in the company, valued at approximately $3,021,517.20. The trade was a 33.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gregory Babcock sold 61,307 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.74, for a total transaction of $1,026,279.18. Following the completion of the sale, the insider directly owned 84,509 shares of the company’s stock, valued at approximately $1,414,680.66. This represents a 42.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 271,307 shares of company stock worth $4,625,679 in the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TALO. Weiss Ratings lowered Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Stephens reissued an “overweight” rating and set a $20.00 price target on shares of Talos Energy in a report on Wednesday, July 1st. Citigroup lowered their price target on shares of Talos Energy from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, July 20th. Roth Capital raised shares of Talos Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $17.00 in a report on Wednesday, July 1st. Finally, Mizuho boosted their target price on shares of Talos Energy from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.50.

Talos Energy Trading Down 2.6%

Shares of TALO stock opened at $16.84 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.61 and a current ratio of 1.61. Talos Energy Inc. has a 1 year low of $8.87 and a 1 year high of $18.44. The stock has a fifty day moving average of $15.14 and a two-hundred day moving average of $14.78. The firm has a market capitalization of $2.81 billion, a PE ratio of -7.08 and a beta of 0.36.

Talos Energy (NYSE:TALO) last issued its quarterly earnings results 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 return on equity of 1.94% and a negative net margin of 20.46%.The company had revenue of $664.81 million for the quarter, compared to analyst estimates of $577.92 million. During the same period last year, the company earned ($0.27) earnings per share. The company’s quarterly revenue was up 56.5% compared to the same quarter last year. As a group, research analysts expect that Talos Energy Inc. will post 1.4 EPS for the current year.

Talos Energy Company 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.