State of New Jersey Common Pension Fund D lifted its position in Tellurian Inc. (NYSEAMERICAN:TELL – Get Rating) by 9.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,512 shares of the oil and gas producer’s stock after buying an additional 46,299 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tellurian were worth $1,325,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of TELL. State Street Corp lifted its stake in Tellurian by 27.3% in the second quarter. State Street Corp now owns 36,631,488 shares of the oil and gas producer’s stock worth $109,162,000 after acquiring an additional 7,856,617 shares during the period. BlackRock Inc. grew its stake in shares of Tellurian by 0.3% during the 1st quarter. BlackRock Inc. now owns 25,830,587 shares of the oil and gas producer’s stock valued at $136,902,000 after purchasing an additional 79,911 shares during the period. Vanguard Group Inc. grew its stake in shares of Tellurian by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 23,333,501 shares of the oil and gas producer’s stock valued at $123,667,000 after purchasing an additional 1,592,084 shares during the period. Salient Capital Advisors LLC lifted its position in shares of Tellurian by 100.1% during the 2nd quarter. Salient Capital Advisors LLC now owns 5,135,777 shares of the oil and gas producer’s stock valued at $15,305,000 after buying an additional 2,568,885 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tellurian by 29.1% during the 2nd quarter. Northern Trust Corp now owns 4,515,973 shares of the oil and gas producer’s stock valued at $13,457,000 after buying an additional 1,018,761 shares in the last quarter. 39.42% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. B. Riley lowered their price target on Tellurian from $8.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, September 26th. Evercore ISI cut their target price on Tellurian from $5.00 to $2.50 in a research report on Monday, September 26th. Finally, Stifel Nicolaus cut their price objective on Tellurian from $3.00 to $2.00 and set a “sell” rating on the stock in a research report on Monday, September 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.40.
Tellurian Trading Down 4.2 %
Tellurian (NYSEAMERICAN:TELL – Get Rating) last released its earnings results on Wednesday, November 2nd. The oil and gas producer reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). Tellurian had a negative net margin of 39.26% and a negative return on equity of 21.83%. The firm had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $89.05 million. On average, equities analysts predict that Tellurian Inc. will post -0.2 earnings per share for the current year.
Tellurian Inc engages in the natural gas business worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) marketing, and infrastructure assets that includes an approximately 27.6 million tons per annum LNG export facility and an associated pipeline. It owns interests in 11,060 net acres of natural gas assets and 78 producing wells located in the Haynesville Shale trend of northern Louisiana.
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