The Manufacturers Life Insurance Company Acquires Shares of 67,119 Talos Energy Inc. $TALO

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

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake 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 valued at $32,000 after purchasing an additional 1,942 shares during the period. Smartleaf Asset Management LLC increased its stake in Talos Energy by 134.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,703 shares of the company’s stock worth $32,000 after buying an additional 2,123 shares during the period. Quarry LP acquired a new position in Talos Energy in the 3rd quarter worth $36,000. PNC Financial Services Group Inc. lifted its holdings in Talos Energy by 22.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,679 shares of the company’s stock worth $54,000 after buying an additional 1,049 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Talos Energy by 395.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock valued at $56,000 after buying an additional 5,236 shares during the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

Talos Energy Price Performance

Shares of TALO stock opened at $16.84 on Friday. The firm has a fifty day moving average of $15.14 and a two-hundred day moving average of $14.78. The firm has a market cap of $2.81 billion, a P/E ratio of -7.08 and a beta of 0.36. Talos Energy Inc. has a 1-year low of $8.87 and a 1-year high of $18.44. 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 (NYSE:TALO) last issued its earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share (EPS) 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 analyst estimates of $577.92 million. During the same quarter in the prior year, the business posted ($0.27) EPS. The company’s revenue for the quarter was up 56.5% on a year-over-year basis. As a group, research analysts anticipate that Talos Energy Inc. will post 1.4 earnings per share for the current fiscal year.

Insider Activity at Talos Energy

In other Talos Energy news, insider John B. Spath sold 90,000 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.90, for a total transaction of $1,521,000.00. Following the sale, the insider owned 178,788 shares in the company, valued at $3,021,517.20. This represents a 33.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider William S. Moss III sold 120,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $17.32, for a total value of $2,078,400.00. Following the transaction, the insider directly owned 305,117 shares in the company, valued at approximately $5,284,626.44. This represents a 28.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 271,307 shares of company stock valued at $4,625,679 over the last three months. 0.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TALO. Stephens restated an “overweight” rating and set a $20.00 target price on shares of Talos Energy in a research note on Wednesday, July 1st. Zacks Research upgraded Talos Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Roth Capital raised Talos Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $16.00 to $17.00 in a report on Wednesday, July 1st. Wall Street Zen upgraded Talos Energy from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. One research 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. Based on data from MarketBeat.com, Talos Energy presently has an average rating of “Moderate Buy” and an average price target of $18.50.

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.