Tellurian (TELL) Coverage Initiated by Analysts at Wells Fargo

Wells Fargo assumed coverage on shares of Tellurian (NASDAQ:TELL) in a report published on Tuesday morning. The firm issued a market perform rating and a $7.50 price objective on the oil and gas producer’s stock.

A number of other equities research analysts have also recently weighed in on the company. BidaskClub upgraded Tellurian from a sell rating to a hold rating in a report on Saturday. Stifel Nicolaus lowered their price target on Tellurian from $16.00 to $15.00 and set a buy rating on the stock in a report on Thursday, March 22nd. Finally, Zacks Investment Research upgraded Tellurian from a hold rating to a buy rating and set a $8.25 price target on the stock in a report on Tuesday, March 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $11.65.

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TELL opened at $9.27 on Tuesday. The company has a market capitalization of $2,012.14, a P/E ratio of -11.30 and a beta of 1.48. Tellurian has a 1-year low of $6.45 and a 1-year high of $13.74.

In related news, insider Meg Gentle bought 100,000 shares of the stock in a transaction on Monday, April 2nd. The shares were purchased at an average price of $6.96 per share, for a total transaction of $696,000.00. Following the acquisition, the insider now owns 11,792,263 shares in the company, valued at $82,074,150.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Diana Derycz Kessler bought 75,000 shares of the stock in a transaction on Tuesday, March 20th. The shares were bought at an average price of $7.08 per share, for a total transaction of $531,000.00. Following the acquisition, the director now owns 36,415 shares in the company, valued at approximately $257,818.20. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 300,000 shares of company stock worth $2,115,250. 48.30% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Hudson Bay Capital Management LP acquired a new stake in Tellurian during the 4th quarter valued at $487,000. Citadel Advisors LLC grew its holdings in 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 valued at $7,061,000 after buying an additional 692,150 shares during the last quarter. Granite Point Capital Management L.P. acquired a new stake in Tellurian during the 4th quarter valued at $438,000. Monashee Investment Management LLC acquired a new stake in Tellurian during the 4th quarter valued at $974,000. Finally, Centenus Global Management LP acquired a new stake in Tellurian during the 4th quarter valued at $974,000. Hedge funds and other institutional investors own 13.59% of the company’s stock.

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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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