Tellurian Inc. (NYSEAMERICAN:TELL) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC trimmed its holdings in shares of Tellurian Inc. (NYSEAMERICAN:TELL – Get Rating) by 38.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,181,519 shares of the oil and gas producer’s stock after selling 2,572,585 shares during the quarter. Nuveen Asset Management LLC owned 0.74% of Tellurian worth $9,994,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Tellurian by 27.3% in the 2nd quarter. State Street Corp now owns 36,631,488 shares of the oil and gas producer’s stock valued at $109,162,000 after acquiring an additional 7,856,617 shares in the last quarter. BlackRock Inc. grew its position in Tellurian by 0.3% in 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 acquiring an additional 79,911 shares in the last quarter. Vanguard Group Inc. grew its position in Tellurian by 7.3% in 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 acquiring an additional 1,592,084 shares in the last quarter. Northern Trust Corp grew its position in Tellurian by 29.1% in 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 acquiring an additional 1,018,761 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Tellurian by 20.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,374,570 shares of the oil and gas producer’s stock valued at $10,056,000 after buying an additional 581,685 shares during the period. 39.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America cut Tellurian from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $4.00 to $1.50 in a research note on Tuesday, February 14th. B. Riley decreased their target price on Tellurian from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $3.60.

Tellurian Stock Performance

TELL stock opened at $1.29 on Friday. The company has a market cap of $726.94 million, a P/E ratio of -11.73 and a beta of 2.31. Tellurian Inc. has a fifty-two week low of $1.29 and a fifty-two week high of $6.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.93 and a quick ratio of 1.93.

Insider Buying and Selling

In other Tellurian news, Chairman Charif Souki sold 310,381 shares of Tellurian stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $1.40, for a total transaction of $434,533.40. Following the transaction, the chairman now owns 9,406,205 shares of the company’s stock, valued at $13,168,687. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 11,833,942 shares of company stock worth $19,595,789 over the last 90 days. 10.90% of the stock is owned by insiders.

About Tellurian

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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.