Talos Energy (NYSE:TALO) Reaches New 52-Week High – Here’s Why

Talos Energy Inc. (NYSE:TALO)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $15.86 and last traded at $15.6380, with a volume of 2318214 shares traded. The stock had previously closed at $15.14.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TALO. Wall Street Zen cut shares of Talos Energy from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Talos Energy in a report on Monday, December 29th. Mizuho boosted their price target on Talos Energy from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. KeyCorp upped their price objective on Talos Energy from $12.00 to $13.50 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Citigroup increased their price objective on Talos Energy from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.63.

Talos Energy Stock Performance

The company has a market cap of $2.64 billion, a PE ratio of -5.51 and a beta of 0.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50-day simple moving average is $12.78 and its 200 day simple moving average is $11.22.

Talos Energy (NYSE:TALO) last issued its earnings results on Tuesday, February 24th. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.17). Talos Energy had a negative net margin of 27.77% and a negative return on equity of 6.59%. The firm had revenue of $392.24 million during the quarter, compared to analysts’ expectations of $431.22 million. During the same period in the previous year, the firm earned $0.08 EPS. The firm’s revenue was down 19.2% on a year-over-year basis. As a group, equities analysts anticipate that Talos Energy Inc. will post -0.44 EPS for the current year.

Institutional Investors Weigh In On Talos Energy

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in Talos Energy by 11.8% during the 1st quarter. Royal Bank of Canada now owns 28,590 shares of the company’s stock worth $278,000 after purchasing an additional 3,007 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Talos Energy by 152.1% in the 1st quarter. AQR Capital Management LLC now owns 90,915 shares of the company’s stock valued at $884,000 after buying an additional 54,854 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Talos Energy by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,196 shares of the company’s stock valued at $838,000 after buying an additional 3,783 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Talos Energy by 16.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,183,496 shares of the company’s stock valued at $21,224,000 after buying an additional 304,205 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Talos Energy by 6.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,613 shares of the company’s stock worth $268,000 after acquiring an additional 1,898 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 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.