Readystate Asset Management LP Purchases 30,846 Shares of Tamboran Resources Corporation $TBN

Readystate Asset Management LP boosted its position in Tamboran Resources Corporation (NYSE:TBN) by 231.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,147 shares of the company’s stock after buying an additional 30,846 shares during the quarter. Readystate Asset Management LP’s holdings in Tamboran Resources were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE increased its stake in shares of Tamboran Resources by 66.7% in 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 during the period. Quantbot Technologies LP bought a new stake in Tamboran Resources during the 2nd quarter valued at approximately $39,000. Deutsche Bank AG bought a new position in shares of Tamboran Resources in the 2nd quarter worth about $42,000. Avalon Trust Co bought a new stake in Tamboran Resources during the second quarter worth about $44,000. Finally, State of Wyoming purchased a new stake in shares of Tamboran Resources in the 2nd quarter worth approximately $99,000.

Tamboran Resources Trading Down 0.3%

Shares of TBN stock opened at $39.31 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. Tamboran Resources Corporation has a 12-month low of $19.55 and a 12-month high of $52.21. The stock’s 50-day moving average price is $34.61 and its 200-day moving average price is $34.74. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -21.02 and a beta of -2.03.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Zacks Research downgraded shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Roth Capital started coverage on Tamboran Resources in a report on Thursday, May 21st. They issued a “buy” rating and a $47.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.