Macquarie Group Ltd. Buys 2,051,856 Shares of Tellurian Inc. (NYSEAMERICAN:TELL)

Posted by Defense World Staff on Mar 7th, 2023

Macquarie Group Ltd. raised its stake in shares of Tellurian Inc. (NYSEAMERICAN:TELL – Get Rating) by 99.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,115,000 shares of the oil and gas producer’s stock after acquiring an additional 2,051,856 shares during the quarter. Macquarie Group Ltd. owned approximately 0.73% of Tellurian worth $9,847,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Guggenheim Capital LLC acquired a new stake in shares of Tellurian in the 1st quarter worth $53,000. Brown Advisory Inc. purchased a new position in Tellurian in the 2nd quarter worth $30,000. Byrne Asset Management LLC purchased a new position in Tellurian in the 3rd quarter worth $25,000. AE Wealth Management LLC purchased a new position in Tellurian in the 3rd quarter worth $26,000. Finally, Columbia Advisory Partners LLC purchased a new position in Tellurian in the 3rd quarter worth $27,000. Institutional investors and hedge funds own 39.42% of the company’s stock.

Insider Buying and Selling at Tellurian

In other Tellurian news, Director Charif Souki sold 1,793,194 shares of Tellurian stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $1.92, for a total transaction of $3,442,932.48. Following the completion of the transaction, the director now owns 26,866,445 shares in the company, valued at approximately $51,583,574.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders sold 11,523,561 shares of company stock worth $19,161,256. Insiders own 10.90% of the company’s stock.

Tellurian Trading Down 3.8 %

NYSEAMERICAN TELL opened at $1.50 on Tuesday. Tellurian Inc. has a fifty-two week low of $1.38 and a fifty-two week high of $6.54. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.64.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. B. Riley reduced their target price on Tellurian from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Bank of America lowered Tellurian from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $4.00 to $1.50 in a research note on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Tellurian has a consensus rating of “Hold” and an average price target of $3.60.

About Tellurian

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Tellurian, Inc engages in producing natural gas and investing in natural gas projects. It develops a portfolio of natural gas production, liquefied natural gas (LNG) marketing, and infrastructure assets that include 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.