Clough Capital Partners L P acquired a new position in Tamboran Resources Corporation (NYSE:TBN – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 46,881 shares of the company’s stock, valued at approximately $2,344,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TBN. Sei Investments Co. acquired a new stake in Tamboran Resources during the 1st quarter valued at $526,000. Walleye Capital LLC boosted its position in shares of Tamboran Resources by 6.4% in the first quarter. Walleye Capital LLC now owns 7,983 shares of the company’s stock worth $399,000 after buying an additional 482 shares during the period. Arbiter Partners Capital Management LLC boosted its position in shares of Tamboran Resources by 17.5% in the first quarter. Arbiter Partners Capital Management LLC now owns 67,212 shares of the company’s stock worth $3,360,000 after buying an additional 10,000 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Tamboran Resources during the first quarter valued at $240,000. Finally, Alberta Investment Management Corp grew its holdings in shares of Tamboran Resources by 13.2% during the fourth quarter. Alberta Investment Management Corp now owns 858,680 shares of the company’s stock valued at $23,382,000 after buying an additional 100,000 shares in the last quarter.
Tamboran Resources Trading Up 0.2%
Tamboran Resources stock opened at $34.25 on Monday. The company’s fifty day simple moving average is $33.71 and its 200-day simple moving average is $32.92. 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 $19.28 and a 12 month high of $52.21. The stock has a market cap of $969.93 million, a P/E ratio of -18.31 and a beta of -2.10.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the company. Royal Bank Of Canada raised Tamboran Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $38.00 to $55.00 in a research note on Wednesday, April 29th. Piper Sandler restated an “overweight” rating and set a $74.00 price objective (up from $41.00) on shares of Tamboran Resources in a research report on Tuesday, March 31st. Roth Capital began coverage on Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 target price on the stock. Wells Fargo & Company upped their target price on Tamboran Resources from $35.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.50.
View Our Latest Stock Report on TBN
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.
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