Tamboran Resources Corporation $TBN Stock Holdings Boosted by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC raised its position in shares of Tamboran Resources Corporation (NYSE:TBN) by 26.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 713,698 shares of the company’s stock after purchasing an additional 150,000 shares during the quarter. Encompass Capital Advisors LLC owned about 3.15% of Tamboran Resources worth $19,434,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after buying an additional 600 shares in the last quarter. State of Wyoming bought a new stake in shares of Tamboran Resources during the 2nd quarter worth $99,000. Walleye Capital LLC bought a new stake in shares of Tamboran Resources during the 4th quarter worth $204,000. Arbiter Partners Capital Management LLC boosted its stake in shares of Tamboran Resources by 15.5% during the 4th quarter. Arbiter Partners Capital Management LLC now owns 57,212 shares of the company’s stock worth $1,558,000 after acquiring an additional 7,670 shares in the last quarter. Finally, XY Capital Ltd bought a new stake in shares of Tamboran Resources during the 4th quarter worth $253,000.

Analyst Ratings Changes

TBN has been the subject of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating and set a $74.00 price objective (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Royal Bank Of Canada raised Tamboran Resources from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $38.00 to $55.00 in a research note on Wednesday, April 29th. Wells Fargo & Company raised their price objective on Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Finally, Roth Mkm initiated coverage on Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective for the company. Four analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.50.

Tamboran Resources Stock Performance

Shares of Tamboran Resources stock opened at $35.98 on Thursday. The stock has a market cap of $1.02 billion, a PE ratio of -19.24 and a beta of -2.20. The business has a fifty day simple moving average of $35.70 and a 200-day simple moving average of $31.59. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. Tamboran Resources Corporation has a 12 month low of $17.29 and a 12 month high of $52.21.

Tamboran Resources (NYSE:TBN) last issued its earnings results on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). On average, sell-side analysts anticipate that Tamboran Resources Corporation will post -1.42 EPS for the current fiscal year.

Insider Buying and Selling at Tamboran Resources

In other Tamboran Resources news, Director Scott D. Sheffield bought 6,990 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was acquired at an average price of $36.02 per share, with a total value of $251,779.80. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Phillip Z. Pace bought 10,000 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was acquired at an average cost of $36.99 per share, with a total value of $369,900.00. Following the transaction, the director owned 35,809 shares of the company’s stock, valued at $1,324,574.91. This trade represents a 38.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 4.50% of the company’s stock.

Tamboran Resources Company 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.