Walleye Capital LLC Takes $881,000 Position in Tamboran Resources Corporation $TBN

Walleye Capital LLC bought a new stake in Tamboran Resources Corporation (NYSE:TBN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,100 shares of the company’s stock, valued at approximately $881,000. Walleye Capital LLC owned approximately 0.10% of Tamboran Resources at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. HITE Hedge Asset Management LLC boosted its holdings in Tamboran Resources by 17.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 2,036,603 shares of the company’s stock worth $55,457,000 after acquiring an additional 299,028 shares in the last quarter. Alberta Investment Management Corp increased its holdings in shares of Tamboran Resources by 13.2% during the fourth quarter. Alberta Investment Management Corp now owns 858,680 shares of the company’s stock valued at $23,382,000 after acquiring an additional 100,000 shares in the last quarter. Encompass Capital Advisors LLC increased its holdings in shares of Tamboran Resources by 26.6% during the fourth quarter. Encompass Capital Advisors LLC now owns 713,698 shares of the company’s stock valued at $19,434,000 after acquiring an additional 150,000 shares in the last quarter. Yaupon Capital Management LP raised its position in shares of Tamboran Resources by 10.7% during the fourth quarter. Yaupon Capital Management LP now owns 515,544 shares of the company’s stock worth $14,038,000 after purchasing an additional 50,000 shares during the period. Finally, UBS Group AG raised its position in shares of Tamboran Resources by 55.4% during the fourth quarter. UBS Group AG now owns 433,598 shares of the company’s stock worth $11,807,000 after purchasing an additional 154,660 shares during the period.

Tamboran Resources Stock Up 2.5%

Shares of NYSE:TBN opened at $36.77 on Friday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -19.66 and a beta of -2.08. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. Tamboran Resources Corporation has a 12-month low of $19.55 and a 12-month high of $52.21. The business’s 50 day moving average is $33.42 and its 200 day moving average is $33.62.

Tamboran Resources (NYSE:TBN) last announced its quarterly 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). On average, sell-side analysts forecast that Tamboran Resources Corporation will post -1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.