Zacks Investment Research upgraded shares of Tellurian (NASDAQ:TELL) from a hold rating to a buy rating in a research report sent to investors on Tuesday. Zacks Investment Research currently has $8.25 price target on the oil and gas producer’s stock.
According to Zacks, “Tellurian Inc. develops low-cost liquefied natural gas projects. The Company owns and operates natural gas liquefaction and storage facilities and loading terminals. Tellurian Inc., formerly known as Magellan Petroleum Corporation, is based in Houston, United States. “
Several other equities research analysts have also recently issued reports on the stock. BidaskClub cut shares of Tellurian from a sell rating to a strong sell rating in a report on Thursday, February 22nd. Stifel Nicolaus started coverage on shares of Tellurian in a report on Thursday, January 4th. They issued a buy rating and a $16.00 target price on the stock. Finally, Seaport Global Securities started coverage on shares of Tellurian in a report on Thursday, December 14th. They issued a buy rating and a $14.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Tellurian has a consensus rating of Buy and an average target price of $12.69.
Shares of Tellurian (TELL) opened at $6.89 on Tuesday. Tellurian has a fifty-two week low of $6.55 and a fifty-two week high of $13.74. The stock has a market cap of $1,585.04, a P/E ratio of -4.99 and a beta of 1.27.
In other Tellurian news, Director Diana Derycz Kessler purchased 75,000 shares of the company’s stock in a transaction dated Tuesday, March 20th. The shares were acquired at an average price of $7.08 per share, for a total transaction of $531,000.00. Following the purchase, the director now directly owns 36,415 shares of the company’s stock, valued at approximately $257,818.20. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 48.30% of the company’s stock.
Several institutional investors have recently modified their holdings of TELL. Citadel Advisors LLC boosted its stake in shares of Tellurian by 2,111.6% during the 4th quarter. Citadel Advisors LLC now owns 724,929 shares of the oil and gas producer’s stock worth $7,061,000 after acquiring an additional 692,150 shares during the last quarter. Precocity Capital LP purchased a new position in shares of Tellurian during the 4th quarter worth $6,331,000. Cushing Asset Management LP purchased a new position in shares of Tellurian during the 4th quarter worth $4,806,000. Millennium Management LLC purchased a new position in shares of Tellurian during the 4th quarter worth $3,987,000. Finally, Anchor Bolt Capital LP purchased a new position in shares of Tellurian during the 4th quarter worth $2,451,000. Institutional investors and hedge funds own 13.86% of the company’s stock.
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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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