248,270 Shares in Tamboran Resources Corporation $TBN Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in Tamboran Resources Corporation (NYSE:TBN) during the 2nd quarter, HoldingsChannel reports. The firm bought 248,270 shares of the company’s stock, valued at approximately $8,040,000.

A number of other institutional investors have also bought and sold shares of the company. Bank of America Corp DE grew its holdings in Tamboran Resources by 66.7% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after acquiring an additional 600 shares during the period. Whitebox Advisors LLC acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at about $1,194,000. State of Wyoming acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at about $99,000. UBS Group AG boosted its position in shares of Tamboran Resources by 170.9% during the 3rd quarter. UBS Group AG now owns 278,938 shares of the company’s stock valued at $7,637,000 after purchasing an additional 175,973 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in shares of Tamboran Resources during the 4th quarter valued at about $493,000.

Tamboran Resources Stock Performance

Shares of TBN opened at $37.12 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a 50-day moving average of $33.85 and a 200-day moving average of $34.29. The company has a market cap of $1.05 billion, a PE ratio of -19.85 and a beta of -2.08. Tamboran Resources Corporation has a one year low of $19.55 and a one year high of $52.21.

Analyst Ratings Changes

TBN has been the subject of a number of research analyst reports. Zacks Research downgraded Tamboran Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Finally, Roth Capital assumed coverage on shares of Tamboran Resources in a research report on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Tamboran Resources currently has a consensus rating of “Hold” and an average price target of $58.50.

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.