Talos Energy (NYSE: TALO) has been downgraded from a “hold” rating to a “sell” rating by equities research analysts at Wall Street Zen, as outlined in a report released on December 29, 2023. This change reflects a shift in sentiment towards the independent oil and gas company, which is headquartered in Houston, Texas.
This downgrade follows a series of mixed evaluations from other investment firms regarding Talos Energy’s stock. Mizuho recently increased its price target for the company from $11.00 to $14.00, maintaining a “neutral” rating in a report dated December 12, 2023. Meanwhile, Weiss Ratings reiterated a “sell (d)” rating for the shares. On December 5, 2023, KeyCorp raised its price target from $12.00 to $13.50 and assigned an “overweight” rating to Talos Energy.
As it stands, four research analysts have given the stock a “buy” rating, two have assigned a “hold” rating, and one has rated it as a “sell.” According to data from MarketBeat.com, Talos Energy currently holds a consensus rating of “hold” with an average target price of $14.25.
Institutional Investor Activity
Recent activities among institutional investors indicate a fluctuating interest in Talos Energy. During the second quarter, Virtus Fixed Income Advisers LLC acquired a new stake in the company, valued at approximately $25,000. In the third quarter, Larson Financial Group LLC significantly increased its position in Talos Energy by 142.9%, now holding 3,301 shares worth about $32,000 after a purchase of an additional 1,942 shares.
Similarly, Smartleaf Asset Management LLC raised its stake by 134.4% during the second quarter, bringing its total to 3,703 shares, also valued at $32,000, following the acquisition of 2,123 shares. Additionally, Quarry LP invested in Talos Energy with a new stake worth approximately $36,000 in the third quarter, while CWM LLC boosted its holdings by 186.3%, now owning 6,027 shares valued at $51,000.
Overall, institutional investors and hedge funds collectively own approximately 89.35% of Talos Energy’s stock, highlighting significant institutional confidence in the firm.
About Talos Energy
Founded in 2012 by industry veterans Tim Duncan and Jeremy Rights, Talos Energy focuses on the acquisition, exploration, development, and production of offshore hydrocarbon reserves, primarily in the U.S. Gulf of Mexico. The company, which completed its initial public offering in 2021, trades on the New York Stock Exchange under the ticker symbol TALO. Talos Energy’s portfolio encompasses both deepwater and shelf opportunities in the Gulf, where it holds interests in various producing fields and exploration blocks.
As the market continues to fluctuate, analysts and investors will closely monitor Talos Energy’s performance and strategic decisions in the coming months.
