Pictet Asset Management SA Acquires 8,248 Shares of Tellurian Inc. (NYSEAMERICAN:TELL)

Pictet Asset Management SA lifted its holdings in Tellurian Inc. (NYSEAMERICAN:TELLGet Rating) by 38.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,751 shares of the oil and gas producer’s stock after buying an additional 8,248 shares during the quarter. Pictet Asset Management SA’s holdings in Tellurian were worth $89,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TELL. Nisa Investment Advisors LLC raised its holdings in Tellurian by 43.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 13,090 shares of the oil and gas producer’s stock worth $69,000 after purchasing an additional 3,940 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Tellurian by 20.0% during the 1st quarter. SG Americas Securities LLC now owns 71,480 shares of the oil and gas producer’s stock worth $379,000 after buying an additional 11,925 shares during the period. National Asset Management Inc. grew its position in shares of Tellurian by 101.5% during the 1st quarter. National Asset Management Inc. now owns 36,725 shares of the oil and gas producer’s stock worth $195,000 after buying an additional 18,500 shares during the period. Sandy Spring Bank grew its position in shares of Tellurian by 76.7% during the 1st quarter. Sandy Spring Bank now owns 7,066 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 3,067 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Tellurian by 2.2% during the 1st quarter. Arizona State Retirement System now owns 103,586 shares of the oil and gas producer’s stock worth $549,000 after buying an additional 2,232 shares during the period. 45.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America upgraded Tellurian from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $6.50 to $4.50 in a research report on Tuesday, August 9th. B. Riley decreased their price objective on Tellurian from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, September 26th. Stifel Nicolaus decreased their price objective on Tellurian from $3.00 to $2.00 and set a “sell” rating for the company in a research report on Monday, September 26th. Finally, Evercore ISI decreased their price objective on Tellurian from $5.00 to $2.50 in a research report on Monday, September 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.40.

Tellurian Stock Performance

TELL opened at $2.65 on Friday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -10.19 and a beta of 2.25. Tellurian Inc. has a 52-week low of $1.54 and a 52-week high of $6.53. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.67. The stock’s fifty day moving average is $3.94.

Tellurian Company Profile

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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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Institutional Ownership by Quarter for Tellurian (NYSEAMERICAN:TELL)

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