Magellan Petroleum Corporation (TELL) Stock Price Up 14%
Magellan Petroleum Corporation (NASDAQ:TELL) shares rose 14% during trading on Wednesday . The stock traded as high as $10.85 and last traded at $10.82. Approximately 839,205 shares traded hands during mid-day trading, an increase of 34% from the average daily volume of 628,277 shares. The stock had previously closed at $9.49.
The company’s market cap is $2.28 billion. The company has a 50-day moving average of $8.94 and a 200-day moving average of $10.71.
Several large investors have recently made changes to their positions in the stock. Nationwide Fund Advisors bought a new position in shares of Magellan Petroleum Corporation in the 2nd quarter valued at about $313,000. Goldman Sachs Group Inc. purchased a new stake in Magellan Petroleum Corporation in the 1st quarter worth about $3,352,000. Credit Suisse AG purchased a new stake in Magellan Petroleum Corporation in the 1st quarter worth about $414,000. BlueCrest Capital Management Ltd purchased a new stake in Magellan Petroleum Corporation in the 1st quarter worth about $579,000. Finally, Bank of America Corp DE purchased a new stake in Magellan Petroleum Corporation in the 1st quarter worth about $307,000. 8.96% of the stock is owned by hedge funds and other institutional investors.
Magellan Petroleum Corporation 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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