Investors Purchase High Volume of Call Options on Tellurian (NYSEAMERICAN:TELL)

Posted by on Apr 7th, 2023

Tellurian Inc. (NYSEAMERICAN:TELL – Get Rating) was the target of some unusual options trading activity on Thursday. Stock traders acquired 17,173 call options on the company. This is an increase of approximately 188% compared to the average daily volume of 5,959 call options.

Tellurian Stock Performance

Shares of NYSEAMERICAN:TELL opened at $1.42 on Friday. The company has a market capitalization of $800.20 million, a PE ratio of -12.91 and a beta of 2.24. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.64. Tellurian has a 12 month low of $0.94 and a 12 month high of $6.40.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. B. Riley cut their target price on shares of 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 cut shares of Tellurian from a “buy” rating to an “underperform” rating and cut their target price for the stock from $4.00 to $1.50 in a research note on Tuesday, February 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.60.

Insider Activity at Tellurian

In related news, Director Charif Souki sold 1,793,194 shares of the firm’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $1.92, for a total value of $3,442,932.48. Following the completion of the transaction, the director now owns 26,866,445 shares of the company’s stock, valued at $51,583,574.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders sold 16,167,552 shares of company stock valued at $24,491,453. Corporate insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Tellurian

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Gallagher Benefit Services Inc. bought a new stake in shares of Tellurian during the 4th quarter valued at approximately $25,000. Natixis bought a new stake in shares of Tellurian during the 4th quarter valued at approximately $1,079,000. Alliancebernstein L.P. grew its holdings in shares of Tellurian by 2.7% during the 4th quarter. Alliancebernstein L.P. now owns 542,100 shares of the oil and gas producer’s stock valued at $911,000 after purchasing an additional 14,300 shares during the last quarter. CI Private Wealth LLC bought a new stake in Tellurian during the 4th quarter worth approximately $118,000. Finally, Annandale Capital LLC acquired a new position in Tellurian in the 4th quarter valued at approximately $42,000. 39.42% of the stock is owned by institutional investors.

About Tellurian

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Tellurian, Inc engages in the production of natural gas and investing in natural gas projects. It operates through the following segments: Upstream, Midstream, and Marketing and Trading. The Upstream segment produces, gathers, and delivers natural gas and acquires and develops natural gas assets. The Midstream segment includes development, construction, and operation of LNG terminals and pipelines.

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