Talos Energy (NYSE:TALO) Posts Earnings Results, Beats Expectations By $0.20 EPS

Talos Energy (NYSE:TALO) posted its quarterly earnings results on Tuesday. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.37 by $0.20, Briefing.com reports. Talos Energy had a negative return on equity of 1.92% and a negative net margin of 20.46%.The firm had revenue of $664.81 million during the quarter, compared to analysts’ expectations of $577.92 million. During the same quarter last year, the firm earned ($0.27) earnings per share. The business’s revenue for the quarter was up 56.5% on a year-over-year basis.

Talos Energy Stock Performance

Shares of Talos Energy stock traded down $0.09 on Thursday, reaching $14.09. 1,068,349 shares of the stock were exchanged, compared to its average volume of 2,160,337. The business has a fifty day moving average price of $14.26 and a two-hundred day moving average price of $14.12. The firm has a market capitalization of $2.35 billion, a PE ratio of -5.92 and a beta of 0.35. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.65. Talos Energy has a 1-year low of $7.71 and a 1-year high of $17.05.

Insiders Place Their Bets

In other Talos Energy news, insider Control Empresarial De Capital sold 339,568 shares of the business’s 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 directly owned 40,460,036 shares of the company’s stock, valued at $679,728,604.80. The trade was a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talos Energy

A number of hedge funds have recently added to or reduced their stakes in TALO. Sourcerock Group LLC lifted its holdings in shares of Talos Energy by 11.0% in the 2nd quarter. Sourcerock Group LLC now owns 11,193,177 shares of the company’s stock worth $94,918,000 after buying an additional 1,110,685 shares during the period. Nuveen LLC boosted its stake in Talos Energy by 341.7% in the fourth quarter. Nuveen LLC now owns 1,423,138 shares of the company’s stock valued at $15,683,000 after acquiring an additional 1,100,967 shares in the last quarter. Federated Hermes Inc. grew its stake in Talos Energy by 2,347.6% during the 4th quarter. Federated Hermes Inc. now owns 643,231 shares of the company’s stock worth $7,088,000 after buying an additional 616,951 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Talos Energy by 25.0% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,965,543 shares of the company’s stock worth $28,440,000 after acquiring an additional 592,509 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Talos Energy by 61.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,506,442 shares of the company’s stock valued at $16,601,000 after purchasing an additional 572,628 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TALO shares. Weiss Ratings cut Talos Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, June 23rd. Wall Street Zen cut shares of Talos Energy from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. JPMorgan Chase & Co. upped their price objective on shares of Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Citigroup reduced their target price on shares of Talos Energy from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, July 20th. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 target price on shares of Talos Energy in a report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” 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.