Melqart Asset Management UK Ltd Sells 533,454 Shares of Tellurian Inc. (NASDAQ:TELL)

Melqart Asset Management UK Ltd cut its stake in shares of Tellurian Inc. (NASDAQ:TELL) by 12.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,656,535 shares of the oil and gas producer’s stock after selling 533,454 shares during the period. Melqart Asset Management UK Ltd owned about 0.85% of Tellurian worth $17,003,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TELL. BlackRock Inc. lifted its stake in Tellurian by 51.3% during the 2nd quarter. BlackRock Inc. now owns 20,471,884 shares of the oil and gas producer’s stock valued at $95,196,000 after acquiring an additional 6,941,531 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Tellurian by 105.3% during the 2nd quarter. Renaissance Technologies LLC now owns 7,272,200 shares of the oil and gas producer’s stock valued at $33,816,000 after acquiring an additional 3,730,100 shares in the last quarter. Vanguard Group Inc. lifted its stake in Tellurian by 22.0% during the 2nd quarter. Vanguard Group Inc. now owns 15,984,904 shares of the oil and gas producer’s stock valued at $74,330,000 after acquiring an additional 2,879,435 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Tellurian during the 2nd quarter valued at $9,658,000. Finally, Salient Capital Advisors LLC bought a new position in Tellurian during the 2nd quarter valued at $8,775,000. Institutional investors and hedge funds own 29.08% of the company’s stock.

TELL has been the topic of a number of recent analyst reports. Credit Suisse Group lowered their target price on Tellurian from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Wednesday, August 11th. B. Riley initiated coverage on Tellurian in a research note on Thursday, July 8th. They set a “buy” rating and a $8.00 target price on the stock. Zacks Investment Research upgraded Tellurian from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley lowered their target price on Tellurian from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Monday, August 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tellurian currently has a consensus rating of “Buy” and an average price target of $5.83.

Tellurian stock traded up $0.07 during midday trading on Wednesday, reaching $3.88. The stock had a trading volume of 97,319 shares, compared to its average volume of 13,823,676. Tellurian Inc. has a 12 month low of $0.80 and a 12 month high of $5.76. The firm’s 50-day moving average price is $3.27 and its 200 day moving average price is $3.30. The firm has a market capitalization of $1.67 billion, a PE ratio of -14.65 and a beta of 2.72.

Tellurian (NASDAQ:TELL) last announced its quarterly earnings data on Tuesday, August 3rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03). Tellurian had a negative net margin of 173.31% and a negative return on equity of 63.23%. The firm had revenue of $25.35 million during the quarter, compared to the consensus estimate of $21.69 million. On average, equities research analysts anticipate that Tellurian Inc. will post -0.21 earnings per share for the current fiscal year.

Tellurian Company Profile

Tellurian, Inc engages in producing natural gas and investing in natural gas projects. It develops a portfolio of natural gas production, LNG marketing, and infrastructure assets that includes an LNG terminal facility and an associated pipeline in southwest Louisiana. The company was founded by Charif Souki and Martin Houston in 1957 and is headquartered in Houston, TX.

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Institutional Ownership by Quarter for Tellurian (NASDAQ:TELL)

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