Talos Energy (NYSE:TALO) Reaches New 52-Week High – Time to Buy?

Shares of Talos Energy Inc. (NYSE:TALO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $17.05 and last traded at $16.7040, with a volume of 394508 shares changing hands. The stock had previously closed at $16.59.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TALO. Roth Mkm restated a “neutral” rating and issued a $16.00 price target (up from $13.00) on shares of Talos Energy in a research report on Wednesday, April 8th. Mizuho set a $17.00 price objective on Talos Energy in a research report on Wednesday, May 6th. Weiss Ratings upgraded Talos Energy from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Thursday, May 7th. Citigroup increased their price objective on Talos Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, March 31st. Finally, KeyCorp increased their price objective on Talos Energy from $15.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, April 2nd. Three equities research 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.50.

Talos Energy Stock Down 1.5%

The company has a market capitalization of $2.73 billion, a PE ratio of -3.80 and a beta of 0.35. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average of $15.06 and a two-hundred day moving average of $12.76.

Talos Energy (NYSE:TALO) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. The company had revenue of $472.31 million during the quarter, compared to analyst estimates of $446.39 million. Talos Energy had a negative return on equity of 8.24% and a negative net margin of 42.58%.The firm’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts predict that Talos Energy Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Talos Energy

In other news, insider Control Empresarial De Capital sold 1,352,000 shares of the firm’s stock in a transaction on Friday, March 27th. The stock was sold at an average price of $16.68, for a total transaction of $22,551,360.00. Following the completion of the transaction, the insider directly owned 41,233,604 shares in the company, valued at $687,776,514.72. This trade represents a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC boosted its position 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 worth $32,000 after buying an additional 1,942 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Talos Energy by 134.4% during the second 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 purchased a new position in shares of Talos Energy during the third quarter worth $36,000. PNC Financial Services Group Inc. boosted its position in shares of Talos Energy by 22.7% during the third 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 during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Talos Energy by 395.5% during the second quarter. EverSource Wealth Advisors LLC now owns 6,560 shares of the company’s stock worth $56,000 after buying an additional 5,236 shares during the period. 89.35% of the stock is currently owned by hedge funds and other institutional investors.

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.