Tellurian (TELL) Trading Down 6.5% Following Weak Earnings

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Shares of Tellurian Inc (NASDAQ:TELL) were down 6.5% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $7.78 and last traded at $7.87. Approximately 1,277,390 shares were traded during mid-day trading, a decline of 0% from the average daily volume of 1,280,586 shares. The stock had previously closed at $8.42.

The oil and gas producer reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The business had revenue of $0.80 million during the quarter, compared to analysts’ expectations of $0.83 million.

A number of equities research analysts have commented on TELL shares. BidaskClub lowered Tellurian from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 19th. Zacks Investment Research upgraded Tellurian from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Saturday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $14.00 price target (down from $15.00) on shares of Tellurian in a report on Thursday, August 9th. Robert W. Baird assumed coverage on Tellurian in a report on Tuesday, August 14th. They set an “outperform” rating and a $15.00 price target for the company. Finally, Cowen lowered Tellurian from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 26th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Tellurian has a consensus rating of “Buy” and an average price target of $12.89.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Tellurian by 14.2% during the 3rd quarter. BlackRock Inc. now owns 5,871,459 shares of the oil and gas producer’s stock valued at $52,666,000 after buying an additional 730,061 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Tellurian by 75.4% during the 2nd quarter. Millennium Management LLC now owns 1,005,013 shares of the oil and gas producer’s stock valued at $8,362,000 after buying an additional 431,875 shares during the last quarter. Laurion Capital Management LP acquired a new stake in shares of Tellurian during the 2nd quarter valued at about $8,326,000. Hennessy Advisors Inc. lifted its holdings in shares of Tellurian by 8.1% during the 3rd quarter. Hennessy Advisors Inc. now owns 1,000,690 shares of the oil and gas producer’s stock valued at $8,976,000 after buying an additional 75,000 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Tellurian by 39.4% during the 2nd quarter. Northern Trust Corp now owns 971,078 shares of the oil and gas producer’s stock valued at $8,080,000 after buying an additional 274,634 shares during the last quarter. Institutional investors and hedge funds own 17.49% of the company’s stock.

The firm has a market cap of $2.08 billion, a PE ratio of -9.27 and a beta of 1.77.

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Tellurian Company Profile (NASDAQ:TELL)

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.

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