Hennessy Advisors Inc. Has $8.04 Million Stake in Tellurian Inc (TELL)
Hennessy Advisors Inc. lessened its position in shares of Tellurian Inc (NASDAQ:TELL) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 825,690 shares of the oil and gas producer’s stock after selling 30,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Tellurian were worth $8,042,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new stake in shares of Tellurian during the 4th quarter valued at approximately $103,000. Schwab Charles Investment Management Inc. raised its position in shares of Tellurian by 3.9% during 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 buying an additional 11,390 shares during the period. Finally, Nationwide Fund Advisors purchased a new stake in shares of Tellurian during the 2nd quarter valued at approximately $313,000. 9.31% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have recently commented on TELL shares. Cowen assumed coverage on shares of Tellurian in a research report on Friday, November 17th. They set an “outperform” rating and a $13.50 price target on the stock. Stifel Nicolaus assumed coverage on Tellurian in a research report on Thursday, January 4th. They issued a “buy” rating and a $16.00 target price on the stock. BidaskClub lowered Tellurian from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th. Finally, Seaport Global Securities assumed coverage on Tellurian in a research report on Thursday, December 14th. They issued a “buy” rating and a $14.00 target price on the stock.
Tellurian (NASDAQ:TELL) last announced its earnings results on Thursday, November 9th. The oil and gas producer reported ($0.12) earnings per share (EPS) for the quarter. analysts anticipate that Tellurian Inc will post -1.26 earnings per share for the current fiscal year.
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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