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Tellurian (TELL) Hires Strategic Adviser to Handle Fiscal Woes
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Tellurian Inc. (TELL - Free Report) ), a struggling liquefied natural gas (LNG) developer, announced that it has enlisted the services of a financial adviser to aid in balance sheet management. This move comes in the wake of the recent ousting of the company's chairman and co-founder Charif Souki amid growing concerns about Tellurian's ability to cover its future expenses.
The decision to bring in a financial adviser was communicated by chairman Martin Houston in a letter addressed to shareholders. Houston stated that the adviser would play a crucial role in shaping commercial structures as well as balance sheet management, indicating a strategic effort to address the financial challenges faced by the company.
Earlier this month, Tellurian removed Souki from his position, just weeks after auditors raised doubts about the company's financial stability. The concerns primarily revolved around Tellurian's capability to meet upcoming financial obligations.
In a recent filing, it was revealed that Chatterjee Fund Management, another investor, increased its stake in Tellurian to 7.3%, up from 5.2% held previously.
As part of its efforts to manage its financial situation, Tellurian disclosed that it had exchanged $37.9 million in notes from a 2025 bond for shares and reached an agreement that eliminated a debt payment due Jan 1. Houston expressed optimism that these initial steps would contribute significantly to restoring confidence in the company's leadership. He mentioned that the financial adviser would provide valuable support and guidance in the upcoming weeks.
Zacks Rank & Key Picks
Tellurian currently carries a Zacks Rank #3 (Hold).
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Murphy USA is a low-cost, high-volume fuel seller, whose stations are located near Walmart supercenters. This enables the company to attract significantly more transactions than its peers. MUSA’s sourcing infrastructure is another key competitive advantage.
The company’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 7.04%.
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Tellurian (TELL) Hires Strategic Adviser to Handle Fiscal Woes
Tellurian Inc. (TELL - Free Report) ), a struggling liquefied natural gas (LNG) developer, announced that it has enlisted the services of a financial adviser to aid in balance sheet management. This move comes in the wake of the recent ousting of the company's chairman and co-founder Charif Souki amid growing concerns about Tellurian's ability to cover its future expenses.
The decision to bring in a financial adviser was communicated by chairman Martin Houston in a letter addressed to shareholders. Houston stated that the adviser would play a crucial role in shaping commercial structures as well as balance sheet management, indicating a strategic effort to address the financial challenges faced by the company.
Earlier this month, Tellurian removed Souki from his position, just weeks after auditors raised doubts about the company's financial stability. The concerns primarily revolved around Tellurian's capability to meet upcoming financial obligations.
In a recent filing, it was revealed that Chatterjee Fund Management, another investor, increased its stake in Tellurian to 7.3%, up from 5.2% held previously.
As part of its efforts to manage its financial situation, Tellurian disclosed that it had exchanged $37.9 million in notes from a 2025 bond for shares and reached an agreement that eliminated a debt payment due Jan 1. Houston expressed optimism that these initial steps would contribute significantly to restoring confidence in the company's leadership. He mentioned that the financial adviser would provide valuable support and guidance in the upcoming weeks.
Zacks Rank & Key Picks
Tellurian currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the energy sector are The Williams Companies, Inc. (WMB - Free Report) , Sunoco LP (SUN - Free Report) and Murphy USA, Inc. (MUSA - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Murphy USA is a low-cost, high-volume fuel seller, whose stations are located near Walmart supercenters. This enables the company to attract significantly more transactions than its peers. MUSA’s sourcing infrastructure is another key competitive advantage.
The company’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 7.04%.