Manatuck Hill Partners LLC Makes New Investment in Tamboran Resources Corporation $TBN

Manatuck Hill Partners LLC acquired a new position in shares of Tamboran Resources Corporation (NYSE:TBN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 32,100 shares of the company’s stock, valued at approximately $874,000.

Other hedge funds also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC lifted its position in Tamboran Resources by 44.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock worth $47,575,000 after acquiring an additional 530,850 shares during the period. Ingalls & Snyder LLC lifted its position in Tamboran Resources by 124.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after acquiring an additional 143,194 shares during the period. Cooper Investors PTY Ltd. acquired a new stake in Tamboran Resources during the 4th quarter worth approximately $690,000. Arbiter Partners Capital Management LLC acquired a new stake in Tamboran Resources during the 3rd quarter worth approximately $1,356,000. Finally, UBS Group AG lifted its position in Tamboran Resources by 55.4% during the 4th quarter. UBS Group AG now owns 433,598 shares of the company’s stock worth $11,807,000 after acquiring an additional 154,660 shares during the period.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Piper Sandler reaffirmed 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. Royal Bank Of Canada raised Tamboran Resources from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $38.00 to $55.00 in a report on Wednesday, April 29th. Roth Mkm began coverage on Tamboran Resources in a report on Thursday, May 21st. They issued a “buy” rating and a $47.00 price target for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Wednesday, April 8th. Finally, Wells Fargo & Company raised their price target on Tamboran Resources from $35.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

Tamboran Resources Stock Down 1.2%

TBN opened at $35.98 on Thursday. 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 business has a 50 day simple moving average of $35.70 and a 200-day simple moving average of $31.59. The stock has a market capitalization of $1.02 billion, a P/E ratio of -19.24 and a beta of -2.20. Tamboran Resources Corporation has a 12 month low of $17.29 and a 12 month high of $52.21.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings data 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). On average, equities analysts anticipate that Tamboran Resources Corporation will post -1.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Tamboran Resources

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

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.