Another day of soaring oil and natural gas prices – and Tellurian is one of the many energy stocks that popped yesterday. The company’s focus on the LNG project coincided with soaring energy prices as shortages worry investors ahead of the winter months.
The recent release of inflation data in the U.S. pushed equities lower, while oil is climbing to sky-high levels. As companies whose operations depend on oil are correlated with commodity prices, oil stocks are on the rise, too. One of the many oil companies in focus yesterday was Tellurian, but there are many others with double-digit price growth.
Let’s find out whether you should invest in oil stocks right now and what you should expect from a soaring oil and gas stock.
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What Is Tellurian?
Tellurian is a natural gas company headquartered in the U.S. The startup was founded in 2016 and is now valued at about $2 billion. It focuses on the Driftwood LNG (liquified natural gas) project, the largest export facility in North America.
Should I Buy Tellurian Today?
Following poor inflation data this week and the damages in the Gulf of Mexico a few weeks ago, oil and natural gas prices boomed. Investors fear shortages, which were confirmed by the American Petroleum Institute (API).
In turn, investors now pool their money in energy stocks, as they expect higher revenues since these companies will capitalise on the higher prices for oil and gas. This is even more important when we consider that we are just ahead of the winter months, and U.S. Energy Information Administration (EIA) stated that the natural gas inventories in the U.S. are about 16.8% lower YoY.
Tellurian is one of the many energy stocks enjoying investors’ attention right now. Yet, that’s not the only reason we picked it for today. The surge in oil prices beautifully coincided with its progress related to the creation of the Driftwood LNG (liquid natural gas) export terminal in Louisiana – not to mention, LNG prices are booming as you’re reading this.
In short, oil and gas prices are likely to continue their growth until the Gulf Coast recovers, keeping such stocks sky-high. The EIA’s weekly natural gas report released today will help investors better understand the production and inventory levels and how these will affect the industry in the future.
Tellurian Price Prediction 2021
Tellurian is a dollar stock trading at $3.54 right now. Analysts have a high target of $8 and a low estimate of $0.9, indicating high volatility.