Ranger Investment Management L.P. Invests $2.61 Million in Tamboran Resources Corporation $TBN

Ranger Investment Management L.P. bought a new position in shares of Tamboran Resources Corporation (NYSE:TBN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 80,248 shares of the company’s stock, valued at approximately $2,609,000.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research lowered Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada upgraded Tamboran Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $38.00 to $55.00 in a report on Wednesday, April 29th. Roth Capital initiated coverage on Tamboran Resources in a research note on Thursday, May 21st. They issued a “buy” rating and a $47.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tamboran Resources currently has a consensus rating of “Hold” and a consensus target price of $58.50.

Tamboran Resources Price Performance

Shares of NYSE TBN opened at $38.00 on Monday. The firm’s 50-day moving average price is $33.68 and its 200-day moving average price is $33.97. Tamboran Resources Corporation has a 1-year low of $19.55 and a 1-year high of $52.21. The firm has a market capitalization of $1.08 billion, a P/E ratio of -20.32 and a beta of -2.08. 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 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.