Talos Energy (NYSE:TALO) Reaches New 12-Month High – Still a Buy?

Talos Energy Inc. (NYSE:TALO) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $17.05 and last traded at $17.0850, with a volume of 456724 shares changing hands. The stock had previously closed at $16.36.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Zacks Research raised shares of Talos Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 11th. Roth Capital raised Talos Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $16.00 to $17.00 in a report on Wednesday, July 1st. JPMorgan Chase & Co. lifted their price objective on Talos Energy from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Weiss Ratings cut Talos Energy from a “sell (d)” rating to a “sell (d-)” rating in a research report on Thursday, August 6th. Finally, Stephens reissued an “overweight” rating and set a $20.00 target price on shares of Talos Energy in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

Talos Energy Stock Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $2.96 billion, a PE ratio of -7.44 and a beta of 0.35. The stock has a 50-day simple moving average of $14.46 and a 200 day simple moving average of $14.45.

Talos Energy (NYSE:TALO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.21. The business had revenue of $664.81 million during the quarter, compared to analysts’ expectations of $577.92 million. Talos Energy had a negative return on equity of 1.94% and a negative net margin of 20.46%.The business’s revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) earnings per share. Equities analysts anticipate that Talos Energy Inc. will post 1 EPS for the current fiscal year.

Hedge Funds Weigh In On Talos Energy

Several hedge funds have recently added to or reduced their stakes in TALO. Smartleaf Asset Management LLC grew its position in Talos Energy by 20.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,243 shares of the company’s stock valued at $59,000 after acquiring an additional 884 shares during the period. Larson Financial Group LLC raised its holdings in shares of Talos Energy by 28.4% in the 4th quarter. Larson Financial Group LLC now owns 4,240 shares of the company’s stock worth $47,000 after purchasing an additional 939 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of 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 purchasing an additional 1,049 shares during the period. US Bancorp DE lifted its stake in shares of Talos Energy by 17.4% in the 3rd quarter. US Bancorp DE now owns 7,089 shares of the company’s stock valued at $68,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of Talos Energy by 3.5% in the 1st quarter. Bleakley Financial Group LLC now owns 44,827 shares of the company’s stock valued at $706,000 after purchasing an additional 1,507 shares in the last quarter. 89.35% of the stock is currently owned by hedge funds and other 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.