Tellurian Inc. (NYSEAMERICAN:TELL) Stake Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of Tellurian Inc. (NYSEAMERICAN:TELL) by 94.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 96,929 shares of the oil and gas producer’s stock after selling 1,730,971 shares during the quarter. Bank of New York Mellon Corp’s holdings in Tellurian were worth $67,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. New Age Alpha Advisors LLC acquired a new position in shares of Tellurian in the fourth quarter valued at $569,000. Rafferty Asset Management LLC lifted its stake in Tellurian by 124.5% in the fourth quarter. Rafferty Asset Management LLC now owns 2,910,652 shares of the oil and gas producer’s stock valued at $2,199,000 after buying an additional 1,614,230 shares during the period. Hennessy Advisors Inc. lifted its stake in Tellurian by 27.4% in the first quarter. Hennessy Advisors Inc. now owns 641,190 shares of the oil and gas producer’s stock valued at $424,000 after buying an additional 138,000 shares during the period. BNP Paribas Financial Markets lifted its stake in Tellurian by 22.9% in the first quarter. BNP Paribas Financial Markets now owns 1,785,943 shares of the oil and gas producer’s stock valued at $1,181,000 after buying an additional 333,362 shares during the period. Finally, Moloney Securities Asset Management LLC acquired a new stake in shares of Tellurian during the first quarter worth about $99,000. 48.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tellurian

In related news, Director Diana Derycz Kessler sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $0.95, for a total transaction of $950,000.00. Following the completion of the sale, the director now directly owns 1,050,000 shares of the company’s stock, valued at $997,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, B. Riley reiterated a “neutral” rating and set a $1.00 target price (down from $2.50) on shares of Tellurian in a research note on Monday, July 22nd.

Tellurian Stock Performance

TELL stock opened at $0.97 on Friday. The business’s 50 day moving average price is $0.71. Tellurian Inc. has a fifty-two week low of $0.36 and a fifty-two week high of $1.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.38. The firm has a market cap of $867.02 million, a P/E ratio of -3.23 and a beta of 2.56.

Tellurian (NYSEAMERICAN:TELL) last issued its quarterly earnings data on Thursday, August 8th. The oil and gas producer reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Tellurian had a negative return on equity of 20.24% and a negative net margin of 129.88%. Equities analysts predict that Tellurian Inc. will post -0.19 earnings per share for the current year.

About Tellurian

Tellurian Inc engages in the natural gas business worldwide. It operates through three segments: The Upstream, The Midstream, and The Marketing & Trading. The company produces, gathers, purchases, sells, and delivers natural gas; acquires and develops natural gas assets; and develops, constructs, and operates liquefied natural gas terminals and pipelines.