Tamboran Resources Corporation $TBN Shares Purchased by Aventail Capital Group LP

Aventail Capital Group LP increased its holdings in shares of Tamboran Resources Corporation (NYSE:TBN) by 77.9% in the fourth quarter, Holdings Channel reports. The firm owned 150,439 shares of the company’s stock after buying an additional 65,886 shares during the quarter. Aventail Capital Group LP’s holdings in Tamboran Resources were worth $4,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. HITE Hedge Asset Management LLC boosted its stake in Tamboran Resources by 44.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock worth $47,575,000 after purchasing an additional 530,850 shares during the period. Ingalls & Snyder LLC boosted its stake in Tamboran Resources by 124.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after purchasing an additional 143,194 shares during the period. Cooper Investors PTY Ltd. acquired a new stake in Tamboran Resources during the 4th quarter worth $690,000. Arbiter Partners Capital Management LLC acquired a new stake in Tamboran Resources during the 3rd quarter worth $1,356,000. Finally, UBS Group AG boosted its stake in Tamboran Resources by 55.4% during the 4th quarter. UBS Group AG now owns 433,598 shares of the company’s stock worth $11,807,000 after purchasing an additional 154,660 shares during the period.

Tamboran Resources Stock Down 1.2%

Shares of Tamboran Resources stock opened at $35.98 on Thursday. The firm has a fifty day moving average of $35.70 and a two-hundred day moving average of $31.59. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. The company has a market cap of $1.02 billion, a P/E ratio of -19.24 and a beta of -2.20. Tamboran Resources Corporation has a one year low of $17.29 and a one year high of $52.21.

Tamboran Resources (NYSE:TBN) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). On average, analysts forecast that Tamboran Resources Corporation will post -1.42 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TBN shares. Piper Sandler reiterated an “overweight” rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Roth Mkm started coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 price target for the company. Wells Fargo & Company increased their price target on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $38.00 to $55.00 in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

Insider Transactions at Tamboran Resources

In related news, Director Phillip Z. Pace purchased 10,000 shares of the business’s stock in a transaction dated Monday, April 13th. The stock was acquired at an average price of $36.99 per share, for a total transaction of $369,900.00. Following the acquisition, the director directly owned 35,809 shares of the company’s stock, valued at $1,324,574.91. This trade represents a 38.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott D. Sheffield purchased 6,990 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was bought at an average price of $36.02 per share, with a total value of $251,779.80. Following the acquisition, the director directly owned 292,430 shares in the company, valued at approximately $10,533,328.60. This represents a 2.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 4.50% of the company’s stock.

Tamboran Resources Profile

Tamboran Resources is an independent energy company focused on the exploration and development of unconventional natural gas resources. Headquartered in Canada and listed on the New York Stock Exchange under the ticker TBN, the company concentrates its activities on onshore basins in Australia. Tamboran’s primary objective is to advance its exploration acreage toward commercial viability by leveraging modern drilling and reservoir evaluation techniques.

The company holds exploration licenses in the Beetaloo Basin in the Northern Territory of Australia, where it is conducting appraisal drilling programs to define reservoir characteristics and recoverability.