Principal Financial Group Inc. boosted its holdings in shares of Tellurian Inc. (NASDAQ:TELL) by 209.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,680 shares of the oil and gas producer’s stock after purchasing an additional 34,317 shares during the period. Principal Financial Group Inc.’s holdings in Tellurian were worth $236,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc acquired a new stake in Tellurian during the first quarter valued at approximately $30,000. KLCM Advisors Inc. purchased a new stake in shares of Tellurian in the 2nd quarter valued at approximately $46,000. Platform Technology Partners purchased a new stake in shares of Tellurian in the 2nd quarter valued at approximately $49,000. Woodward Diversified Capital LLC purchased a new stake in shares of Tellurian in the 2nd quarter valued at approximately $51,000. Finally, Mutual Advisors LLC lifted its position in shares of Tellurian by 42.9% in the 1st quarter. Mutual Advisors LLC now owns 22,800 shares of the oil and gas producer’s stock valued at $53,000 after acquiring an additional 6,840 shares in the last quarter. 29.08% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on TELL. Morgan Stanley reduced their price target on shares of Tellurian from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 23rd. Zacks Investment Research upgraded shares of Tellurian from a “sell” rating to a “hold” rating in a research report on Tuesday, August 10th. B. Riley began coverage on shares of Tellurian in a research report on Thursday, July 8th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Credit Suisse Group reduced their price target on shares of Tellurian from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Wednesday, August 11th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $5.83.
Tellurian (NASDAQ:TELL) last released its quarterly earnings data on Tuesday, August 3rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). Tellurian had a negative net margin of 173.31% and a negative return on equity of 63.23%. The company had revenue of $25.35 million during the quarter, compared to analyst estimates of $21.69 million. Research analysts expect that Tellurian Inc. will post -0.21 EPS for the current fiscal year.
Tellurian, Inc engages in producing natural gas and investing in natural gas projects. It develops a portfolio of natural gas production, LNG marketing, and infrastructure assets that includes an LNG terminal facility and an associated pipeline in southwest Louisiana. The company was founded by Charif Souki and Martin Houston in 1957 and is headquartered in Houston, TX.
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