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.
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.
TRADEMARK VIOLATION NOTICE: “Tellurian (TELL) Coverage Initiated by Analysts at Wells Fargo” was published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this piece on another website, it was copied illegally and reposted in violation of U.S. and international trademark and copyright legislation. The original version of this piece can be viewed at https://www.thelincolnianonline.com/2018/04/18/tellurian-tell-coverage-initiated-by-analysts-at-wells-fargo.html.
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.
Receive News & Ratings for Tellurian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tellurian and related companies with MarketBeat.com's FREE daily email newsletter.