Talos Energy (NYSE:TALO) Shares Gap Down – Here’s Why

Talos Energy Inc. (NYSE:TALO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $10.78, but opened at $10.37. Talos Energy shares last traded at $10.06, with a volume of 225,003 shares traded.

Wall Street Analyst Weigh In

TALO has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Talos Energy in a report on Monday, July 22nd. They issued a “buy” rating and a $14.00 target price on the stock. Mizuho assumed coverage on shares of Talos Energy in a research note on Thursday, September 19th. They issued an “outperform” rating and a $16.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of Talos Energy in a research note on Wednesday, July 10th. BMO Capital Markets decreased their price objective on shares of Talos Energy from $14.00 to $13.00 and set a “market perform” rating for the company in a research note on Friday, October 4th. Finally, Benchmark restated a “buy” rating and set a $20.00 price target on shares of Talos Energy in a research note on Friday, September 27th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Talos Energy currently has a consensus rating of “Moderate Buy” and an average price target of $19.15.

Talos Energy Stock Performance

The company’s fifty day simple moving average is $11.20 and its 200 day simple moving average is $11.86. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.84 billion, a P/E ratio of 336.67 and a beta of 1.93.

Talos Energy (NYSE:TALO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.16. Talos Energy had a negative net margin of 0.93% and a negative return on equity of 0.21%. The firm had revenue of $549.17 million during the quarter, compared to the consensus estimate of $516.61 million. During the same period last year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 49.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Talos Energy Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Talos Energy

In other news, insider Control Empresarial De Capital purchased 250,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was purchased at an average cost of $11.40 per share, with a total value of $2,850,000.00. Following the acquisition, the insider now directly owns 38,222,904 shares in the company, valued at approximately $435,741,105.60. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 2,119,000 shares of company stock valued at $22,931,130 in the last three months. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Talos Energy

A number of hedge funds have recently made changes to their positions in TALO. Signaturefd LLC raised its position in Talos Energy by 51.9% in the 2nd quarter. Signaturefd LLC now owns 2,685 shares of the company’s stock worth $33,000 after purchasing an additional 917 shares during the period. Headlands Technologies LLC bought a new stake in shares of Talos Energy during the 1st quarter valued at about $50,000. Nisa Investment Advisors LLC boosted its stake in shares of Talos Energy by 91.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,689 shares of the company’s stock valued at $57,000 after purchasing an additional 2,235 shares in the last quarter. Sandia Investment Management LP bought a new stake in shares of Talos Energy during the 1st quarter valued at about $70,000. Finally, Norden Group LLC bought a new stake in shares of Talos Energy during the 1st quarter valued at about $147,000. 89.35% of the stock is owned by institutional investors.

About Talos Energy

Talos Energy Inc, through its subsidiaries, engages in the exploration and production of oil, natural gas, and natural gas liquids in the United States and Mexico. It also engages in the development of carbon capture and sequestration. Talos Energy Inc was founded in 2011 and is headquartered in Houston, Texas.