Cushing Asset Management LP acquired a new stake in shares of Tellurian Inc (NASDAQ:TELL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 493,436 shares of the oil and gas producer’s stock, valued at approximately $4,806,000. Cushing Asset Management LP owned approximately 0.22% of Tellurian at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in TELL. Fox Run Management L.L.C. bought a new stake in shares of Tellurian in the 4th quarter valued at about $103,000. Teacher Retirement System of Texas bought a new stake in shares of Tellurian in the 4th quarter valued at about $206,000. Guggenheim Capital LLC bought a new stake in shares of Tellurian in the 4th quarter valued at about $208,000. Landscape Capital Management L.L.C. bought a new stake in shares of Tellurian in the 4th quarter valued at about $378,000. Finally, Granite Point Capital Management L.P. bought a new stake in shares of Tellurian in the 4th quarter valued at about $438,000. Institutional investors own 13.86% of the company’s stock.
Tellurian Inc (NASDAQ:TELL) opened at $8.10 on Thursday. Tellurian Inc has a 12-month low of $8.04 and a 12-month high of $13.74. The stock has a market cap of $1,810.00, a P/E ratio of -6.23 and a beta of 1.27.
Several equities research analysts have recently commented on the stock. Seaport Global Securities assumed coverage on shares of Tellurian in a report on Thursday, December 14th. They issued a “buy” rating and a $14.00 price target for the company. BidaskClub lowered shares of Tellurian from a “hold” rating to a “sell” rating in a report on Thursday, December 14th. Stifel Nicolaus assumed coverage on shares of Tellurian in a report on Thursday, January 4th. They issued a “buy” rating and a $16.00 price target for the company. Finally, Cowen assumed coverage on shares of Tellurian in a report on Friday, November 17th. They issued an “outperform” rating and a $13.50 price target for the company.
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Tellurian Inc, formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia.
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