According to Zacks, “Tellurian Inc. develops low-cost liquefied natural gas projects. The Company owns and operates natural gas liquefaction and storage facilities and loading terminals. Tellurian Inc., formerly known as Magellan Petroleum Corporation, is based in Houston, United States. “
Separately, Credit Suisse Group upgraded Tellurian from a “neutral” rating to an “outperform” rating and raised their target price for the company from $5.50 to $8.00 in a report on Friday, April 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Tellurian currently has a consensus rating of “Buy” and an average target price of $6.24.
Tellurian (NYSEAMERICAN:TELL – Get Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The oil and gas producer reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.05). Tellurian had a negative return on equity of 38.05% and a negative net margin of 160.98%. The firm had revenue of $21.58 million for the quarter, compared to analysts’ expectations of $41.28 million. On average, sell-side analysts forecast that Tellurian will post -0.17 EPS for the current year.
Several large investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Tellurian by 5.3% in the fourth quarter. BlackRock Inc. now owns 25,750,676 shares of the oil and gas producer’s stock valued at $79,313,000 after purchasing an additional 1,304,952 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Tellurian by 2.7% in the third quarter. Renaissance Technologies LLC now owns 7,467,500 shares of the oil and gas producer’s stock valued at $29,198,000 after purchasing an additional 195,300 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Tellurian by 36.4% in the third quarter. Geode Capital Management LLC now owns 6,805,649 shares of the oil and gas producer’s stock valued at $26,610,000 after purchasing an additional 1,815,296 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Tellurian in the third quarter valued at about $21,710,000. Finally, First Trust Advisors LP grew its position in shares of Tellurian by 208.0% in the fourth quarter. First Trust Advisors LP now owns 5,360,310 shares of the oil and gas producer’s stock valued at $16,510,000 after purchasing an additional 3,619,847 shares during the last quarter. 34.15% of the stock is currently owned by institutional investors.
About Tellurian (Get Rating)
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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