Ingalls & Snyder LLC Buys 143,194 Shares of Tamboran Resources Corporation $TBN

Ingalls & Snyder LLC lifted its position in Tamboran Resources Corporation (NYSE:TBN) by 124.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,534 shares of the company’s stock after buying an additional 143,194 shares during the quarter. Ingalls & Snyder LLC’s holdings in Tamboran Resources were worth $7,079,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Alberta Investment Management Corp boosted its stake in Tamboran Resources by 116.8% in the second quarter. Alberta Investment Management Corp now owns 758,680 shares of the company’s stock worth $16,175,000 after buying an additional 408,680 shares in the last quarter. State of Wyoming boosted its stake in shares of Tamboran Resources by 178.9% in the 3rd quarter. State of Wyoming now owns 12,954 shares of the company’s stock valued at $355,000 after purchasing an additional 8,310 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Tamboran Resources by 1,471.7% during the 2nd quarter. Bank of America Corp DE now owns 11,788 shares of the company’s stock valued at $251,000 after purchasing an additional 11,038 shares during the last quarter. Whitebox Advisors LLC purchased a new position in Tamboran Resources in the 2nd quarter worth $1,194,000. Finally, Financial Management Professionals Inc. bought a new stake in Tamboran Resources in the third quarter worth $27,000.

Analysts Set New Price Targets

TBN has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on Tamboran Resources in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Royal Bank Of Canada raised their price target on Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Tamboran Resources Stock Up 2.8%

NYSE TBN opened at $28.88 on Wednesday. Tamboran Resources Corporation has a 1 year low of $17.29 and a 1 year high of $31.90. The stock has a market capitalization of $653.89 million, a PE ratio of -15.12 and a beta of 0.18. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01. The business’s 50-day moving average is $26.98 and its 200 day moving average is $24.73.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.33) EPS for the quarter, meeting analysts’ consensus estimates of ($0.33). The business had revenue of $0.05 million for the quarter. Sell-side analysts forecast that Tamboran Resources Corporation will post -1.86 earnings per share for the current year.

Insider Activity at Tamboran Resources

In related news, Director Phillip Z. Pace acquired 2,000 shares of Tamboran Resources stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $23.50 per share, with a total value of $47,000.00. Following the transaction, the director owned 2,000 shares in the company, valued at $47,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

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.