Tellurian Inc. (NYSEAMERICAN:TELL) Shares Purchased by Millennium Management LLC

Millennium Management LLC lifted its holdings in Tellurian Inc. (NYSEAMERICAN:TELL) by 174.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,833,537 shares of the oil and gas producer’s stock after acquiring an additional 9,430,606 shares during the quarter. Millennium Management LLC owned 1.77% of Tellurian worth $10,274,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in Tellurian by 22.9% during the first quarter. BNP Paribas Financial Markets now owns 1,785,943 shares of the oil and gas producer’s stock valued at $1,181,000 after buying an additional 333,362 shares during the period. Rafferty Asset Management LLC lifted its holdings in Tellurian by 124.5% during the fourth quarter. Rafferty Asset Management LLC now owns 2,910,652 shares of the oil and gas producer’s stock valued at $2,199,000 after purchasing an additional 1,614,230 shares in the last quarter. Swiss National Bank lifted its holdings in Tellurian by 13.8% during the first quarter. Swiss National Bank now owns 1,326,400 shares of the oil and gas producer’s stock valued at $877,000 after purchasing an additional 160,900 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Tellurian in the second quarter worth about $627,000. Finally, Vanguard Group Inc. lifted its stake in shares of Tellurian by 12.5% in the first quarter. Vanguard Group Inc. now owns 37,380,931 shares of the oil and gas producer’s stock worth $24,724,000 after buying an additional 4,149,531 shares in the last quarter. Institutional investors and hedge funds own 48.87% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley reissued a “neutral” rating and issued a $1.00 price target (down from $2.50) on shares of Tellurian in a research note on Monday, July 22nd.

Tellurian Price Performance

Shares of TELL opened at $1.00 on Tuesday. Tellurian Inc. has a 1-year low of $0.36 and a 1-year high of $1.07. The firm has a market capitalization of $891.42 million, a PE ratio of -3.32 and a beta of 2.56. The company’s 50-day moving average is $0.72. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38.

Tellurian (NYSEAMERICAN:TELL) last announced its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Tellurian had a negative net margin of 129.88% and a negative return on equity of 20.24%. As a group, sell-side analysts expect that Tellurian Inc. will post -0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Diana Derycz Kessler sold 1,000,000 shares of Tellurian stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $0.95, for a total value of $950,000.00. Following the completion of the transaction, the director now owns 1,050,000 shares in the company, valued at $997,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.00% of the stock is owned by insiders.

Tellurian Profile

Tellurian Inc engages in the natural gas business worldwide. It operates through three segments: The Upstream, The Midstream, and The Marketing & Trading. The company produces, gathers, purchases, sells, and delivers natural gas; acquires and develops natural gas assets; and develops, constructs, and operates liquefied natural gas terminals and pipelines.