Bank of New York Mellon Corp raised its holdings in shares of Tellurian Inc (NASDAQ:TELL) by 22.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 321,518 shares of the oil and gas producer’s stock after acquiring an additional 58,955 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.13% of Tellurian worth $2,675,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Tellurian by 39.6% during the 2nd quarter. Rhumbline Advisers now owns 84,744 shares of the oil and gas producer’s stock worth $705,000 after acquiring an additional 24,027 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Tellurian during the 2nd quarter worth about $181,000. Perella Weinberg Partners Capital Management LP acquired a new position in shares of Tellurian during the 2nd quarter worth about $7,774,000. Hennessy Advisors Inc. boosted its position in shares of Tellurian by 17.5% during the 2nd quarter. Hennessy Advisors Inc. now owns 925,690 shares of the oil and gas producer’s stock worth $7,702,000 after acquiring an additional 138,000 shares in the last quarter. Finally, North Star Investment Management Corp. acquired a new position in shares of Tellurian during the 2nd quarter worth about $2,101,000. 17.28% of the stock is owned by institutional investors and hedge funds.
Tellurian stock opened at $8.91 on Tuesday. Tellurian Inc has a fifty-two week low of $6.45 and a fifty-two week high of $13.74. The stock has a market capitalization of $2.16 billion, a PE ratio of -10.87 and a beta of 1.63.
Tellurian (NASDAQ:TELL) last posted its earnings results on Wednesday, August 8th. The oil and gas producer reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.04). The firm had revenue of $0.81 million during the quarter, compared to analyst estimates of $5.45 million. As a group, analysts anticipate that Tellurian Inc will post -0.58 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the company. BidaskClub cut Tellurian from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Bank of America assumed coverage on Tellurian in a research report on Monday. They set a “buy” rating for the company. Zacks Investment Research raised Tellurian from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. Robert W. Baird assumed coverage on Tellurian in a research report on Tuesday, August 14th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of Tellurian in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $12.42.
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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