Tellurian Inc (TELL) Shares Sold by Metropolitan Life Insurance Co. NY
Metropolitan Life Insurance Co. NY reduced its holdings in shares of Tellurian Inc (NASDAQ:TELL) by 56.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,787 shares of the oil and gas producer’s stock after selling 25,458 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Tellurian were worth $193,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in TELL. Hudson Bay Capital Management LP bought a new position in Tellurian during the fourth quarter worth $487,000. Citadel Advisors LLC lifted its stake in Tellurian by 2,111.6% during the fourth quarter. Citadel Advisors LLC now owns 724,929 shares of the oil and gas producer’s stock worth $7,061,000 after purchasing an additional 692,150 shares during the last quarter. Granite Point Capital Management L.P. bought a new position in Tellurian during the fourth quarter worth $438,000. Monashee Investment Management LLC bought a new position in Tellurian during the fourth quarter worth $974,000. Finally, Centenus Global Management LP bought a new position in Tellurian during the fourth quarter worth $974,000. Institutional investors own 13.60% of the company’s stock.
Shares of TELL opened at $9.67 on Friday. Tellurian Inc has a 12-month low of $6.45 and a 12-month high of $13.74. The firm has a market cap of $2,352.74, a P/E ratio of -11.79 and a beta of 1.47.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Tellurian from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 4th. Zacks Investment Research upgraded Tellurian from a “hold” rating to a “buy” rating and set a $8.25 price objective on the stock in a research note on Tuesday, March 20th. Wells Fargo assumed coverage on Tellurian in a research note on Tuesday, April 17th. They set a “market perform” rating and a $7.50 price objective on the stock. Finally, Stifel Nicolaus assumed coverage on Tellurian in a research note on Thursday, January 4th. They set a “buy” rating and a $16.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $11.65.
In related news, insider Meg Gentle bought 100,000 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were bought at an average cost of $6.96 per share, for a total transaction of $696,000.00. Following the completion of the purchase, the insider now owns 11,792,263 shares of the company’s stock, valued at approximately $82,074,150.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diana Derycz Kessler bought 50,000 shares of the business’s stock in a transaction on Monday, March 26th. The stock was bought at an average price of $6.68 per share, for a total transaction of $334,000.00. Following the completion of the purchase, the director now directly owns 36,415 shares of the company’s stock, valued at approximately $243,252.20. The disclosure for this purchase can be found here. Insiders acquired 300,000 shares of company stock worth $2,115,250 over the last quarter. 48.30% of the stock is currently owned by company insiders.
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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