Zacks Investment Research downgraded shares of Tellurian (NASDAQ:TELL) from a hold rating to a sell rating in a research report sent to investors on Wednesday 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. “
A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird set a $17.00 price objective on shares of Tellurian and gave the stock a buy rating in a research report on Monday, September 17th. Cowen cut shares of Tellurian from an outperform rating to a market perform rating in a research report on Wednesday, September 26th. Credit Suisse Group started coverage on shares of Tellurian in a research report on Thursday, October 11th. They set an outperform rating and a $15.00 price objective for the company. Bank of America started coverage on shares of Tellurian in a research report on Monday, October 8th. They set a buy rating for the company. Finally, BidaskClub cut shares of Tellurian from a hold rating to a sell rating in a research report on Thursday, November 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $12.29.
TELL opened at $6.80 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.61 and a current ratio of 4.61. Tellurian has a 1 year low of $6.32 and a 1 year high of $12.45.
Tellurian (NASDAQ:TELL) last posted its earnings results on Wednesday, November 7th. The oil and gas producer reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Tellurian had a negative net margin of 930.79% and a negative return on equity of 45.00%. The firm had revenue of $0.80 million during the quarter, compared to analyst estimates of $0.83 million. On average, sell-side analysts predict that Tellurian will post -0.59 EPS for the current year.
In related news, Director Charif Souki acquired 50,000 shares of Tellurian stock in a transaction on Tuesday, November 20th. The stock was bought at an average cost of $7.29 per share, for a total transaction of $364,500.00. Following the completion of the transaction, the director now owns 28,548,728 shares of the company’s stock, valued at approximately $208,120,227.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 44.80% of the company’s stock.
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Tellurian by 4.3% in the third quarter. Vanguard Group Inc. now owns 8,433,168 shares of the oil and gas producer’s stock valued at $75,645,000 after buying an additional 346,785 shares during the last quarter. MetLife Investment Advisors LLC raised its position in shares of Tellurian by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 60,418 shares of the oil and gas producer’s stock valued at $542,000 after buying an additional 21,478 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in shares of Tellurian in the third quarter valued at about $975,000. Roosevelt Investment Group Inc. acquired a new stake in shares of Tellurian in the third quarter valued at about $611,000. Finally, BlackRock Inc. raised its position in shares of Tellurian by 14.2% in the third quarter. BlackRock Inc. now owns 5,871,459 shares of the oil and gas producer’s stock valued at $52,666,000 after buying an additional 730,061 shares during the last quarter. Institutional investors own 19.07% of the company’s stock.
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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