Talos Energy (NYSE:TALO) Sets New 52-Week High – Here’s What Happened

Talos Energy Inc. (NYSE:TALO) reached a new 52-week high during trading on Tuesday. The company traded as high as $18.76 and last traded at $18.5740, with a volume of 47,906 shares. The stock had previously closed at $18.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. KeyCorp lifted their price target on Talos Energy from $21.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Roth Capital raised shares of Talos Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $16.00 to $17.00 in a research report on Wednesday, July 1st. Weiss Ratings lowered shares of Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Stephens reaffirmed an “overweight” rating and issued a $20.00 target price on shares of Talos Energy in a report on Wednesday, July 1st. Finally, Citigroup upped their target price on shares of Talos Energy from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 15th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Talos Energy has an average rating of “Hold” and an average price target of $19.71.

Talos Energy Stock Down 2.0%

The company’s 50 day simple moving average is $17.13 and its 200-day simple moving average is $14.81. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3.03 billion, a P/E ratio of -7.65 and a beta of 0.42.

Talos Energy (NYSE:TALO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 EPS for the quarter, topping 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 firm had revenue of $664.81 million during the quarter, compared to analyst estimates of $577.92 million. During the same period in the previous year, the business posted ($0.27) earnings per share. The business’s revenue for the quarter was up 56.5% on a year-over-year basis. Research analysts forecast that Talos Energy Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Transactions at Talos Energy

In related news, insider Control Empresarial De Capital sold 2,141,590 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $18.01, for a total value of $38,570,035.90. Following the sale, the insider owned 24,500,000 shares in the company, valued at approximately $441,245,000. This trade represents a 8.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 16,231,343 shares of company stock valued at $282,917,071 in the last 90 days. Company insiders own 0.51% of the company’s stock.

Hedge Funds Weigh In On Talos Energy

A number of institutional investors and hedge funds have recently made changes to their positions in TALO. Fifth Third Wealth Advisors LLC purchased a new position in shares of Talos Energy during the 3rd quarter valued at $383,000. Nisa Investment Advisors LLC increased its stake in Talos Energy by 57.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,343 shares of the company’s stock worth $136,000 after acquiring an additional 3,053 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in Talos Energy in the third quarter worth $9,513,000. Fortitude Family Office LLC raised its position in shares of Talos Energy by 8,502.0% during the 3rd quarter. Fortitude Family Office LLC now owns 4,387 shares of the company’s stock valued at $72,000 after buying an additional 4,336 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Talos Energy by 317.7% during the third quarter. Farther Finance Advisors LLC now owns 9,052 shares of the company’s stock valued at $148,000 after purchasing an additional 6,885 shares during the period. Hedge funds and other institutional investors own 89.35% of the company’s stock.

About Talos Energy

Talos Energy Inc is an independent energy company focused on the exploration, development and production of oil and natural gas. The company’s upstream operations are concentrated in the U.S. Gulf of Mexico, where it holds interests in offshore properties and produces crude oil, natural gas and natural gas liquids.

In addition to its traditional exploration and production activities, Talos has pursued carbon management opportunities through the development of carbon capture and storage projects along the U.S.