Sunbelt Securities Inc. Grows Stock Holdings in Tellurian Inc. (NYSEAMERICAN:TELL)

Sunbelt Securities Inc. grew its stake in shares of Tellurian Inc. (NYSEAMERICAN:TELL – Get Rating) by 111.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,390 shares of the oil and gas producer’s stock after acquiring an additional 25,000 shares during the period. Sunbelt Securities Inc.’s holdings in Tellurian were worth $113,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. PDT Partners LLC purchased a new position in Tellurian during the third quarter valued at approximately $33,000. Wedbush Securities Inc. grew its position in shares of Tellurian by 19.7% during the 3rd quarter. Wedbush Securities Inc. now owns 36,500 shares of the oil and gas producer’s stock valued at $87,000 after purchasing an additional 6,000 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Tellurian by 27.1% in the third quarter. Private Advisor Group LLC now owns 60,498 shares of the oil and gas producer’s stock worth $145,000 after purchasing an additional 12,917 shares during the period. Accel Wealth Management purchased a new stake in shares of Tellurian in the third quarter worth $53,000. Finally, Pacer Advisors Inc. boosted its stake in Tellurian by 21.8% during the third quarter. Pacer Advisors Inc. now owns 332,706 shares of the oil and gas producer’s stock valued at $795,000 after buying an additional 59,499 shares during the period. 39.42% of the stock is owned by institutional investors.

Tellurian Stock Performance

NYSEAMERICAN:TELL opened at $1.14 on Friday. The company has a market capitalization of $642.41 million, a P/E ratio of -10.36 and a beta of 2.31. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.64. Tellurian Inc. has a 1-year low of $1.08 and a 1-year high of $6.54.

Insiders Place Their Bets

In other news, Chairman Charif Souki sold 310,381 shares of the company’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $1.40, for a total value of $434,533.40. Following the completion of the sale, the chairman now owns 9,406,205 shares of the company’s stock, valued at approximately $13,168,687. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 11,833,942 shares of company stock valued at $19,595,789. 10.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on the company. B. Riley lowered their price target on Tellurian from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Bank of America downgraded shares of Tellurian from a “buy” rating to an “underperform” rating and lowered their target price for the company from $4.00 to $1.50 in a research note on Tuesday, February 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Tellurian currently has a consensus rating of “Hold” and an average target price of $3.60.

About Tellurian

(Get Rating)

Tellurian, Inc engages in producing natural gas and investing in natural gas projects. It develops a portfolio of natural gas production, liquefied natural gas (LNG) marketing, and infrastructure assets that include 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.