Tellurian (NASDAQ:TELL) Lifted to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of Tellurian (NASDAQ:TELL) from an in-line rating to an outperform rating in a research report sent to investors on Tuesday, Price Targets.com reports. They currently have $7.00 price target on the oil and gas producer’s stock, up from their prior price target of $3.00.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Tellurian from a hold rating to a sell rating in a research report on Thursday, May 27th. Scotiabank boosted their target price on Tellurian from $3.00 to $5.50 and gave the company a sector perform rating in a research note on Tuesday, June 1st. Morgan Stanley upgraded Tellurian from an underweight rating to an equal weight rating and boosted their target price for the company from $2.00 to $8.00 in a research note on Monday. DNB Markets upgraded Tellurian from a hold rating to a buy rating and set a $4.40 target price on the stock in a research note on Tuesday, May 25th. Finally, Wolfe Research boosted their target price on Tellurian from $5.00 to $7.00 and gave the company an outperform rating in a research note on Thursday, May 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $5.74.

NASDAQ:TELL opened at $4.85 on Tuesday. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -6.83 and a beta of 2.47. Tellurian has a 1-year low of $0.68 and a 1-year high of $5.76. The company’s fifty day simple moving average is $2.75.

Tellurian (NASDAQ:TELL) last posted its quarterly earnings results on Wednesday, May 5th. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The business had revenue of $8.71 million for the quarter, compared to analyst estimates of $17.62 million. Tellurian had a negative net margin of 519.33% and a negative return on equity of 95.01%. As a group, sell-side analysts predict that Tellurian will post -0.25 EPS for the current year.

In related news, Director Diana Derycz Kessler purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, April 27th. The stock was bought at an average price of $2.14 per share, for a total transaction of $214,000.00. Following the purchase, the director now owns 205,441 shares in the company, valued at approximately $439,643.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Total Delaware, Inc. sold 2,624,479 shares of the stock in a transaction that occurred on Wednesday, March 17th. The shares were sold at an average price of $2.60, for a total value of $6,823,645.40. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

A number of large investors have recently made changes to their positions in TELL. Melqart Asset Management UK Ltd bought a new stake in Tellurian during the 1st quarter valued at approximately $9,805,000. Renaissance Technologies LLC bought a new stake in Tellurian during the 4th quarter valued at approximately $4,471,000. BlackRock Inc. boosted its stake in Tellurian by 22.5% during the 4th quarter. BlackRock Inc. now owns 11,621,539 shares of the oil and gas producer’s stock valued at $14,876,000 after purchasing an additional 2,136,440 shares during the period. Credit Suisse AG boosted its stake in Tellurian by 2,561.5% during the 1st quarter. Credit Suisse AG now owns 1,275,373 shares of the oil and gas producer’s stock valued at $2,984,000 after purchasing an additional 1,227,454 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Tellurian by 184.7% during the 1st quarter. JPMorgan Chase & Co. now owns 1,795,068 shares of the oil and gas producer’s stock valued at $4,200,000 after purchasing an additional 1,164,665 shares during the period. Hedge funds and other institutional investors own 23.68% of the company’s stock.

About Tellurian

Tellurian Inc engages in the natural gas business worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) marketing, and infrastructure assets that includes an approximately 27.6 million tonnes per annum LNG terminal facility and an associated pipeline in southwest Louisiana.

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Analyst Recommendations for Tellurian (NASDAQ:TELL)

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