Bank of America Corp DE trimmed its stake in shares of Tellurian Inc. (NASDAQ:TELL) by 12.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,910,697 shares of the oil and gas producer’s stock after selling 276,838 shares during the quarter. Bank of America Corp DE’s holdings in Tellurian were worth $8,884,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Salient Capital Advisors LLC acquired a new position in Tellurian during the 2nd quarter worth $8,775,000. Blackstone Group Inc. grew its stake in Tellurian by 14.2% during the 1st quarter. Blackstone Group Inc. now owns 232,771 shares of the oil and gas producer’s stock worth $545,000 after purchasing an additional 28,961 shares in the last quarter. New York State Common Retirement Fund grew its stake in Tellurian by 94.5% during the 2nd quarter. New York State Common Retirement Fund now owns 284,014 shares of the oil and gas producer’s stock worth $1,321,000 after purchasing an additional 138,014 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tellurian by 24.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,691,743 shares of the oil and gas producer’s stock worth $7,867,000 after purchasing an additional 331,575 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Tellurian during the 2nd quarter worth $1,393,000. 29.07% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on TELL shares. Zacks Investment Research raised Tellurian from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 26th. Credit Suisse Group lowered their price objective on Tellurian from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Wednesday, August 11th. Finally, Morgan Stanley lowered their price objective on Tellurian from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, August 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $5.83.
Shares of NASDAQ TELL opened at $3.55 on Thursday. The stock has a market cap of $1.70 billion, a PE ratio of -17.75 and a beta of 2.43. Tellurian Inc. has a 52-week low of $1.20 and a 52-week high of $5.76. The business has a 50-day moving average price of $3.76 and a 200 day moving average price of $3.62.
Tellurian (NASDAQ:TELL) last announced its earnings results on Wednesday, November 3rd. The oil and gas producer reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $15.64 million during the quarter, compared to analysts’ expectations of $30.21 million. Tellurian had a negative return on equity of 37.98% and a negative net margin of 146.03%. As a group, research analysts forecast that Tellurian Inc. will post -0.23 EPS for the current year.
Tellurian Company Profile
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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