Tellurian (TELL) Trading Down 6.7%

Tellurian Inc (NASDAQ:TELL) was down 6.7% during trading on Wednesday . The company traded as low as $9.30 and last traded at $9.30. Approximately 1,114,155 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 1,149,104 shares. The stock had previously closed at $9.97.

A number of equities research analysts have commented on TELL shares. BidaskClub lowered Tellurian from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Seaport Global Securities started coverage on Tellurian in a research report on Thursday, December 14th. They issued a “buy” rating and a $14.00 price target on the stock. Cowen assumed coverage on Tellurian in a research report on Friday, November 17th. They issued an “outperform” rating and a $13.50 price target on the stock. Finally, Stifel Nicolaus assumed coverage on Tellurian in a research note on Thursday, January 4th. They issued a “buy” rating and a $16.00 price objective on the stock.

Several large investors have recently made changes to their positions in TELL. Nationwide Fund Advisors acquired a new position in shares of Tellurian in the 2nd quarter valued at about $313,000. Schwab Charles Investment Management Inc. lifted its stake in shares of Tellurian by 3.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 300,958 shares of the oil and gas producer’s stock valued at $2,932,000 after purchasing an additional 11,390 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Tellurian in the 4th quarter valued at about $103,000. Teacher Retirement System of Texas acquired a new position in shares of Tellurian in the 4th quarter valued at about $206,000. Finally, Swiss National Bank lifted its stake in shares of Tellurian by 8.0% in the 4th quarter. Swiss National Bank now owns 107,800 shares of the oil and gas producer’s stock valued at $1,050,000 after purchasing an additional 8,000 shares during the period. 10.55% of the stock is currently owned by institutional investors.

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Tellurian 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.

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