The Vanguard Group, Inc. recently announced the acquisition of new stake in Tellurian Inc (AMEX:TELL). The institutional investor has increased its shareholding in the Energy company by 4.59% to 42.06 million shares with purchase of 1.85 million shares. This fresh investment now brings its stake to 6.63% valued currently at $31.8 million. In addition, BlackRock Fund Advisors raised its holdings by 1.0 million to 34.93 million shares. And SSgA Funds Management, Inc. has lifted its position by 6.82% or 1.7 million shares – to 26.62 million shares.
Currently, there are 698.53M common shares owned by the public and among those 616.22M shares have been available to trade.
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Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 600,000 shares. Insider sales of the common stock occurred on 36 occasions, with total insider shares sold totaling 24,086,147 shares.
The top 3 mutual fund holders in Tellurian Inc are SPDR S&P Oil & Gas Exploration &, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Oil & Gas Exploration & owns 36.09 million shares of the company’s stock, all valued at over $27.28 million. The company bought an additional 0.74 million shares recently to bring their total holdings to about 5.69% of the shares outstanding. iShares Russell 2000 ETF sold 39294.0 shares to bring its total holdings to over 14.84 million shares at a value of $11.22 million. iShares Russell 2000 ETF now owns shares totaling to 2.34% of the shares outstanding.
However, the script later moved the day high at 0.5575, up 0.51%. The company’s stock has a 5-day price change of -17.49% and -25.81% over the past three months. TELL shares are trading -27.21% year to date (YTD), with the 12-month market performance down to -71.35% lower. It has a 12-month low price of $0.48 and touched a high of $2.14 over the same period. TELL has an average intraday trading volume of 37.91 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -24.94%, -14.94%, and -50.41% respectively.
Institutional ownership of Tellurian Inc (AMEX: TELL) shares accounts for 28.66% of the company’s 698.53M shares outstanding. Mutual fund holders own 21.12%, while other institutional holders and individual stakeholders account for 23.22% and 10.89% respectively.
It has a market capitalization of $384.19M and a beta (3y monthly) value of 2.27. The earnings-per-share (ttm) stands at -$0.22. Price movements for the stock have been influenced by the stock’s volatility, which stands at 12.75% over the week and 11.59% over the month.
Analysts forecast that Tellurian Inc (TELL) will achieve an EPS of -$0.04 for the current quarter, -$0.04 for the next quarter and -$0.21 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to decrease by -235.14%, and 42.56% over the next financial year.
Looking at the support for the TELL, a number of firms have released research notes about the stock. BofA Securities stated their Underperform rating for the stock in a research note on February 14, 2023, with the firm’s price target at $4-$1.50.
