Zacks Investment Research downgraded shares of Tellurian (NASDAQ:TELL) from a buy rating to a hold rating in a research note released on Thursday morning.
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. “
Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reaffirmed a buy rating and set a $14.00 price target (down previously from $15.00) on shares of Tellurian in a research report on Thursday, August 9th. BidaskClub raised Tellurian from a sell rating to a hold rating in a research report on Wednesday, August 29th. Robert W. Baird began coverage on Tellurian in a research report on Tuesday, August 14th. They set an outperform rating and a $15.00 price target for the company. Credit Suisse Group began coverage on Tellurian in a research report on Thursday, October 11th. They set an outperform rating and a $15.00 price target for the company. Finally, Bank of America began coverage on Tellurian in a research report on Monday, October 8th. They set a buy rating for the company. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Tellurian currently has a consensus rating of Buy and a consensus target price of $12.89.
NASDAQ:TELL opened at $8.30 on Thursday. Tellurian has a twelve month low of $6.45 and a twelve month high of $13.74. The company has a market cap of $2.00 billion, a price-to-earnings ratio of -10.12 and a beta of 1.77.
Tellurian (NASDAQ:TELL) last released its quarterly earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.04). The business had revenue of $0.81 million during the quarter, compared to analysts’ expectations of $5.45 million. Sell-side analysts expect that Tellurian will post -0.59 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of Tellurian by 439.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 84,172 shares of the oil and gas producer’s stock valued at $755,000 after buying an additional 68,572 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of Tellurian in the 3rd quarter valued at approximately $583,000. Mizuho Securities USA LLC acquired a new stake in shares of Tellurian in the 3rd quarter valued at approximately $227,000. Gradient Investments LLC acquired a new stake in shares of Tellurian in the 3rd quarter valued at approximately $103,000. Finally, SL Advisors LLC acquired a new stake in shares of Tellurian in the 3rd quarter valued at approximately $402,000. 17.46% of the stock is owned by institutional investors.
Tellurian Company Profile
Tellurian Inc plans to develop, own, and operate a natural gas business and to deliver natural gas to customers worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) trading, and infrastructure that includes an approximately 27.6 million tons per annum LNG export facility and an associated pipeline.
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