UBS Group AG Increases Position in Tamboran Resources Corporation $TBN

UBS Group AG boosted its holdings in Tamboran Resources Corporation (NYSE:TBN) by 55.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 433,598 shares of the company’s stock after purchasing an additional 154,660 shares during the quarter. UBS Group AG owned about 2.12% of Tamboran Resources worth $11,807,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of America Corp DE grew 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 worth $31,000 after purchasing an additional 600 shares during the period. State of Wyoming purchased a new stake in Tamboran Resources in the second quarter worth about $99,000. Cooper Investors PTY Ltd. purchased a new stake in Tamboran Resources in the fourth quarter worth about $690,000. Arbiter Partners Capital Management LLC purchased a new stake in Tamboran Resources in the third quarter worth about $1,356,000. Finally, Whitebox Advisors LLC purchased a new stake in Tamboran Resources in the second quarter worth about $1,194,000.

Tamboran Resources Trading Down 0.3%

Shares of NYSE TBN opened at $36.36 on Friday. The firm’s 50 day moving average price is $35.80 and its 200-day moving average price is $29.78. The company has a market cap of $1.03 billion, a PE ratio of -19.44 and a beta of -2.17. Tamboran Resources Corporation has a 52-week low of $17.29 and a 52-week high of $52.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.01 and a current ratio of 2.00.

Tamboran Resources (NYSE:TBN) last issued its earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The firm had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $2.40 million. On average, equities research analysts expect that Tamboran Resources Corporation will post -1.44 EPS for the current fiscal year.

Insider Buying and Selling

In other Tamboran Resources news, Director Scott D. Sheffield purchased 6,990 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were acquired at an average cost of $36.02 per share, for a total transaction of $251,779.80. Following the completion of the transaction, the director owned 292,430 shares of the company’s stock, valued at approximately $10,533,328.60. The trade was a 2.45% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Phillip Z. Pace purchased 10,000 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was acquired at an average price of $36.99 per share, for a total transaction of $369,900.00. Following the completion of the transaction, the director directly owned 35,809 shares of the company’s stock, valued at approximately $1,324,574.91. This trade represents a 38.75% increase in their position. The SEC filing for this purchase provides additional information. 4.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TBN. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $38.00 to $55.00 in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. Piper Sandler reiterated an “overweight” rating and issued a $74.00 target price (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company upped their target price on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.75.

About Tamboran Resources

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.