Tellurian Inc (TELL)

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Millennium Management LLC Buys Shares of 409,309 Tellurian Inc (TELL)

Posted by ABMN Staff on Apr 20th, 2018 // No Comments

Tellurian logoMillennium Management LLC bought a new stake in shares of Tellurian Inc (NASDAQ:TELL) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 409,309 shares of the oil and gas producer’s stock, valued at approximately $3,987,000. Millennium Management LLC owned about 0.18% of Tellurian at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Cushing Asset Management LP purchased a new stake in shares of Tellurian during the 4th quarter valued at $4,806,000. Guggenheim Capital LLC purchased a new stake in shares of Tellurian during the 4th quarter valued at $208,000. Deutsche Bank AG increased its position in shares of Tellurian by 299.8% during the 4th quarter. Deutsche Bank AG now owns 208,554 shares of the oil and gas producer’s stock valued at $2,029,000 after purchasing an additional 156,395 shares during the last quarter. Anchor Bolt Capital LP purchased a new stake in shares of Tellurian during the 4th quarter valued at $2,451,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Tellurian during the 4th quarter valued at $1,944,000. 13.59% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Meg Gentle acquired 100,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was bought at an average price of $6.96 per share, with a total value of $696,000.00. Following the acquisition, the insider now owns 11,792,263 shares in the company, valued at approximately $82,074,150.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana Derycz Kessler acquired 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The stock was purchased at an average cost of $6.68 per share, with a total value of $334,000.00. Following the acquisition, the director now owns 36,415 shares in the company, valued at approximately $243,252.20. The disclosure for this purchase can be found here. In the last three months, insiders purchased 300,000 shares of company stock valued at $2,115,250. 48.30% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on TELL. Wells Fargo began coverage on Tellurian in a research report on Tuesday. They set a “market perform” rating and a $7.50 target price for the company. BidaskClub raised Tellurian from a “sell” rating to a “hold” rating in a research report on Saturday, April 14th. Stifel Nicolaus decreased their target price on Tellurian from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, March 22nd. Finally, Zacks Investment Research raised Tellurian from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Tuesday, March 20th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Tellurian presently has a consensus rating of “Buy” and an average price target of $11.65.

Shares of TELL opened at $9.93 on Friday. Tellurian Inc has a fifty-two week low of $6.45 and a fifty-two week high of $13.74. The stock has a market capitalization of $2,117.20, a P/E ratio of -12.11 and a beta of 1.47.


Tellurian Inc plans to develop, own, and operate a natural gas business and to deliver natural gas to customers worldwide. The company is developing a portfolio of natural gas production, liquefied natural gas (LNG) trading, and infrastructure that includes an approximately 27.6 million tons per annum LNG export facility and an associated pipeline.

https://www.americanbankingnews.com/2018/04/20/millennium-management-llc-buys-shares-of-409309-tellurian-inc-tell.html