Goldman Sachs Group Inc. Acquires Shares of 286,006 Magellan Petroleum Corporation (TELL)

Goldman Sachs Group Inc. bought a new position in Magellan Petroleum Corporation (NASDAQ:TELL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 286,006 shares of the oil and gas producer’s stock, valued at approximately $3,352,000. Goldman Sachs Group Inc. owned 0.14% of Magellan Petroleum Corporation as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. UBS Group AG bought a new position in Magellan Petroleum Corporation during the first quarter valued at approximately $105,000. Fifth Third Bancorp bought a new position in Magellan Petroleum Corporation during the first quarter valued at approximately $141,000. Segantii Capital Management Ltd bought a new position in Magellan Petroleum Corporation during the first quarter valued at approximately $164,000. Menta Capital LLC bought a new position in Magellan Petroleum Corporation during the first quarter valued at approximately $241,000. Finally, Bank of America Corp DE bought a new position in Magellan Petroleum Corporation during the first quarter valued at approximately $307,000. 3.83% of the stock is currently owned by institutional investors and hedge funds.

Magellan Petroleum Corporation (NASDAQ TELL) traded down 0.47% during trading on Wednesday, hitting $8.54. The stock had a trading volume of 266,901 shares. Magellan Petroleum Corporation has a 52 week low of $3.32 and a 52 week high of $21.74. The company’s market cap is $1.73 billion. The stock has a 50-day moving average price of $9.65 and a 200-day moving average price of $11.34.

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Magellan Petroleum Corporation Company Profile

Tellurian Inc, formerly Magellan Petroleum Corporation, is an oil and gas exploration and production company. The Company focuses on the development of liquefied natural gas (LNG) projects along the United States Gulf Coast through its subsidiary, Tellurian Investments Inc The Company owns interests in the Horse Hill-1 well and related licenses in the Weald Basin, onshore the United Kingdom, and an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, Australia.