Citigroup Inc. Buys 1,102,743 Shares of Tellurian Inc. (NYSEAMERICAN:TELL)

Citigroup Inc. raised its holdings in Tellurian Inc. (NYSEAMERICAN:TELL – Get Rating) by 90.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,324,904 shares of the oil and gas producer’s stock after purchasing an additional 1,102,743 shares during the period. Citigroup Inc.’s holdings in Tellurian were worth $3,906,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TELL. Columbia Advisory Partners LLC acquired a new stake in Tellurian in the 3rd quarter worth about $27,000. Byrne Asset Management LLC boosted its stake in Tellurian by 68.5% during the fourth quarter. Byrne Asset Management LLC now owns 17,610 shares of the oil and gas producer’s stock worth $30,000 after acquiring an additional 7,160 shares in the last quarter. PDT Partners LLC bought a new position in Tellurian during the third quarter worth $33,000. QCM Cayman Ltd. acquired a new position in Tellurian during the fourth quarter worth $37,000. Finally, Cipher Capital LP acquired a new position in Tellurian during the third quarter worth $44,000. 39.42% of the stock is currently owned by institutional investors and hedge funds.

Tellurian Stock Up 0.8 %

Shares of TELL opened at $1.33 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 0.78. Tellurian Inc. has a 1 year low of $0.94 and a 1 year high of $5.10. The firm’s 50 day moving average is $2.12.

Tellurian (NYSEAMERICAN:TELL – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Tellurian had a negative return on equity of 1.30% and a negative net margin of 3.61%. The company had revenue of $102.53 million during the quarter, compared to the consensus estimate of $98.17 million. On average, analysts forecast that Tellurian Inc. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TELL shares. B. Riley reduced their price target on shares of Tellurian from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. Stifel Nicolaus lowered their target price on shares of Tellurian from $1.30 to $1.00 in a research note on Thursday, May 4th. Finally, 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.

Insider Buying and Selling at Tellurian

In other Tellurian news, Chairman Charif Souki sold 1,923,283 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $1.60, for a total value of $3,077,252.80. Following the completion of the transaction, the chairman now directly owns 12,925,147 shares of the company’s stock, valued at $20,680,235.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 8,667,989 shares of company stock worth $11,555,767 over the last quarter. Insiders own 10.90% of the company’s stock.

Tellurian Company Profile

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Tellurian, Inc engages in the production of natural gas and investing in natural gas projects. It operates through the following segments: Upstream, Midstream, and Marketing and Trading. The Upstream segment produces, gathers, and delivers natural gas and acquires and develops natural gas assets. The Midstream segment includes development, construction, and operation of LNG terminals and pipelines.