Commonwealth Equity Services LLC increased its stake in shares of Tellurian Inc. (NASDAQ:TELL) by 53.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,461 shares of the oil and gas producer’s stock after buying an additional 32,724 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Tellurian were worth $365,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of TELL. Intrua Financial LLC bought a new position in shares of Tellurian in the 3rd quarter worth about $70,000. Harvey Capital Management Inc. bought a new stake in shares of Tellurian in the 3rd quarter worth approximately $195,000. Kestra Advisory Services LLC bought a new stake in Tellurian during the 3rd quarter valued at $334,000. Pacer Advisors Inc. increased its holdings in shares of Tellurian by 37.1% in the third quarter. Pacer Advisors Inc. now owns 163,451 shares of the oil and gas producer’s stock worth $639,000 after purchasing an additional 44,248 shares during the period. Finally, Private Advisor Group LLC increased its holdings in shares of Tellurian by 14.3% in the third quarter. Private Advisor Group LLC now owns 33,523 shares of the oil and gas producer’s stock worth $131,000 after purchasing an additional 4,200 shares during the period. 33.18% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ TELL opened at $3.18 on Friday. The firm has a market cap of $1.52 billion, a PE ratio of -15.90 and a beta of 2.37. The company has a 50 day moving average price of $3.37 and a 200 day moving average price of $3.49. Tellurian Inc. has a 52 week low of $1.62 and a 52 week high of $5.76.
In other Tellurian news, Director James Donald Bennett bought 20,000 shares of Tellurian stock in a transaction dated Wednesday, November 10th. The stock was acquired at an average cost of $4.05 per share, for a total transaction of $81,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 15.80% of the company’s stock.
Separately, Zacks Investment Research raised shares of Tellurian from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $5.83.
Tellurian, Inc engages in producing natural gas and investing in natural gas projects. It develops a portfolio of natural gas production, LNG marketing, and infrastructure assets that includes an LNG terminal facility and an associated pipeline in southwest Louisiana. The company was founded by Charif Souki and Martin Houston in 1957 and is headquartered in Houston, TX.
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