Talos Energy (NYSE:TALO) Shares Gap Up – Time to Buy?

Talos Energy Inc. (NYSE:TALO) shares gapped up before the market opened on Wednesday . The stock had previously closed at $12.91, but opened at $13.76. Talos Energy shares last traded at $13.7850, with a volume of 481,183 shares trading hands.

Wall Street Analyst Weigh In

TALO has been the subject of several recent analyst reports. Roth Mkm raised shares of Talos Energy from a “buy” rating to a “buy” rating and set a $17.00 target price for the company in a report on Wednesday. Benchmark downgraded Talos Energy from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. Stephens restated an “overweight” rating and issued a $20.00 price objective on shares of Talos Energy in a research report on Wednesday. Mizuho upped their price objective on Talos Energy from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, June 23rd. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.83.

Talos Energy Stock Performance

The firm’s 50-day moving average price is $14.89 and its 200-day moving average price is $13.54. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market cap of $2.24 billion, a P/E ratio of -3.12 and a beta of 0.33.

Talos Energy (NYSE:TALO) last issued its earnings results on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The firm had revenue of $472.31 million during the quarter, compared to analyst estimates of $446.39 million. Talos Energy had a negative net margin of 42.58% and a negative return on equity of 8.24%. Talos Energy’s revenue for the quarter was down 7.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. Sell-side analysts expect that Talos Energy Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the 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 owned 40,460,036 shares of the company’s stock, valued at $679,728,604.80. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Talos Energy

Several large investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Talos Energy by 142.9% in the third quarter. Larson Financial Group LLC now owns 3,301 shares of the company’s stock worth $32,000 after buying an additional 1,942 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Talos Energy by 134.4% during the second 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 last quarter. Quarry LP purchased a new position in Talos Energy during the 3rd quarter valued at approximately $36,000. PNC Financial Services Group Inc. grew its holdings 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 buying an additional 1,049 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Talos Energy by 395.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock worth $56,000 after acquiring an additional 5,236 shares during the last quarter. 89.35% of the stock is owned by institutional investors.

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.