Millennium Management LLC Purchases 9,430,606 Shares of Tellurian Inc. (NYSEAMERICAN:TELL)

Millennium Management LLC lifted its holdings in Tellurian Inc. (NYSEAMERICAN:TELL - Free Report) by 174.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,833,537 shares of the oil and gas producer's stock after acquiring an additional 9,430,606 shares during the period. Millennium Management LLC owned approximately 1.77% of Tellurian worth $10,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Tellurian in the 2nd quarter valued at $627,000. Cubist Systematic Strategies LLC increased its stake in Tellurian by 16.0% in the second quarter. Cubist Systematic Strategies LLC now owns 205,672 shares of the oil and gas producer's stock valued at $142,000 after purchasing an additional 28,301 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Tellurian during the second quarter valued at about $300,000. XTX Topco Ltd boosted its position in shares of Tellurian by 69.2% during the 2nd quarter. XTX Topco Ltd now owns 212,075 shares of the oil and gas producer's stock worth $147,000 after purchasing an additional 86,714 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Tellurian by 88.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 60,204 shares of the oil and gas producer's stock valued at $42,000 after buying an additional 28,236 shares during the period. 48.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tellurian

In related news, Director Diana Derycz Kessler sold 1,000,000 shares of the business's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $0.95, for a total transaction of $950,000.00. Following the sale, the director now directly owns 1,050,000 shares in the company, valued at approximately $997,500. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Tellurian Price Performance

Tellurian stock remained flat at $1.00 during mid-day trading on Tuesday. The company had a trading volume of 72,177,988 shares, compared to its average volume of 41,306,500. The company has a 50 day moving average of $0.72. The firm has a market capitalization of $892.31 million, a P/E ratio of -3.33 and a beta of 2.56. Tellurian Inc. has a 1-year low of $0.36 and a 1-year high of $1.07. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.38.

Tellurian (NYSEAMERICAN:TELL - Get Free Report) last issued its earnings results on Thursday, August 8th. The oil and gas producer reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Tellurian had a negative return on equity of 20.24% and a negative net margin of 129.88%. As a group, equities research analysts anticipate that Tellurian Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, B. Riley restated a "neutral" rating and set a $1.00 price target (down previously from $2.50) on shares of Tellurian in a research note on Monday, July 22nd.

Tellurian Profile

Tellurian Inc engages in the natural gas business worldwide. It operates through three segments: The Upstream, The Midstream, and The Marketing & Trading. The company produces, gathers, purchases, sells, and delivers natural gas; acquires and develops natural gas assets; and develops, constructs, and operates liquefied natural gas terminals and pipelines.