Arrowstreet Capital Limited Partnership bought a new stake in Tellurian Inc (NASDAQ:TELL) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 56,000 shares of the oil and gas producer’s stock, valued at approximately $545,000.
Several other institutional investors and hedge funds have also modified their holdings of TELL. BlackRock Inc. increased its holdings in shares of Tellurian by 4.2% in the 4th quarter. BlackRock Inc. now owns 4,417,762 shares of the oil and gas producer’s stock valued at $43,030,000 after purchasing an additional 177,800 shares during the period. Granite Point Capital Management L.P. acquired a new position in shares of Tellurian in the 4th quarter valued at about $438,000. Wells Fargo & Company MN increased its holdings in shares of Tellurian by 46.8% in the 4th quarter. Wells Fargo & Company MN now owns 90,641 shares of the oil and gas producer’s stock valued at $883,000 after purchasing an additional 28,878 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Tellurian in the 4th quarter valued at about $206,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Tellurian by 3.9% in 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 purchasing an additional 11,390 shares during the period. Institutional investors own 13.86% of the company’s stock.
TELL has been the topic of a number of research reports. Cowen started coverage on Tellurian in a report on Friday, November 17th. They issued an “outperform” rating and a $13.50 target price on the stock. BidaskClub downgraded Tellurian from a “sell” rating to a “strong sell” rating in a report on Thursday, February 22nd. Stifel Nicolaus started coverage on Tellurian in a report on Thursday, January 4th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Seaport Global Securities started coverage on Tellurian in a report on Thursday, December 14th. They issued a “buy” rating and a $14.00 price objective on the stock.
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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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