16,363 Shares in Tamboran Resources Corporation $TBN Bought by State of Wyoming

State of Wyoming acquired a new stake in Tamboran Resources Corporation (NYSE:TBN) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,363 shares of the company’s stock, valued at approximately $532,000. State of Wyoming owned approximately 0.06% of Tamboran Resources at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TBN. Encompass Capital Advisors LLC lifted its holdings in shares of Tamboran Resources by 26.6% in the 4th quarter. Encompass Capital Advisors LLC now owns 713,698 shares of the company’s stock valued at $19,434,000 after purchasing an additional 150,000 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of Tamboran Resources by 17.2% in the 4th quarter. HITE Hedge Asset Management LLC now owns 2,036,603 shares of the company’s stock valued at $55,457,000 after purchasing an additional 299,028 shares during the period. Cooper Investors PTY Ltd. increased its position in Tamboran Resources by 514.0% during the second quarter. Cooper Investors PTY Ltd. now owns 155,479 shares of the company’s stock worth $5,055,000 after buying an additional 130,157 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Tamboran Resources by 113.8% in the first quarter. The Manufacturers Life Insurance Company now owns 237,748 shares of the company’s stock valued at $11,885,000 after buying an additional 126,549 shares during the last quarter. Finally, Clough Capital Partners L P purchased a new stake in Tamboran Resources in the first quarter valued at approximately $2,344,000.

Tamboran Resources Trading Up 1.8%

NYSE TBN opened at $37.49 on Tuesday. The stock has a market capitalization of $1.06 billion, a P/E ratio of -20.05 and a beta of -2.08. Tamboran Resources Corporation has a 52-week low of $19.55 and a 52-week high of $52.21. The firm has a 50-day moving average price of $33.48 and a 200 day moving average price of $33.73. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TBN shares. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $38.00 to $55.00 in a research report on Wednesday, April 29th. Roth Capital initiated 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. Zacks Research downgraded shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.50.

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.