Baupost Group LLC MA Has $7 Million Holdings in Tamboran Resources Corporation $TBN

Baupost Group LLC MA lessened its holdings in shares of Tamboran Resources Corporation (NYSE:TBN) by 54.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 257,226 shares of the company’s stock after selling 313,607 shares during the quarter. Tamboran Resources makes up about 0.1% of Baupost Group LLC MA’s holdings, making the stock its 22nd biggest holding. Baupost Group LLC MA’s holdings in Tamboran Resources were worth $7,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. HITE Hedge Asset Management LLC boosted its position in shares of 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 in the last quarter. UBS Group AG boosted its position in shares of Tamboran Resources by 170.9% during 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. Ingalls & Snyder LLC boosted its position in shares of 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 in the last quarter. Cohen & Steers Inc. boosted its position in shares of Tamboran Resources by 448.6% during the 4th quarter. Cohen & Steers Inc. now owns 130,204 shares of the company’s stock worth $3,545,000 after acquiring an additional 106,469 shares in the last quarter. Finally, Reaves W H & Co. Inc. acquired a new stake in shares of Tamboran Resources during the 4th quarter worth approximately $2,723,000.

Analyst Upgrades and Downgrades

TBN has been the topic of several analyst reports. Roth Mkm initiated coverage on shares of Tamboran Resources in a research report on Thursday, May 21st. They set a “buy” rating and a $47.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research report on Tuesday, March 31st. Wells Fargo & Company increased their price target on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $38.00 to $55.00 in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Tamboran Resources has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Tamboran Resources Price Performance

Shares of NYSE:TBN opened at $39.96 on Friday. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -21.37 and a beta of -2.20. 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 firm has a 50 day simple moving average of $36.14 and a 200 day simple moving average of $31.25. Tamboran Resources Corporation has a one year low of $17.29 and a one year high of $52.21.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). Research analysts predict that Tamboran Resources Corporation will post -1.42 earnings per share for the current fiscal year.

Insider Activity at Tamboran Resources

In related news, Director Phillip Z. Pace acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $36.99 per share, with a total value of $369,900.00. Following the purchase, the director directly owned 35,809 shares in the company, valued at approximately $1,324,574.91. This trade represents a 38.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Scott D. Sheffield acquired 6,990 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was bought at an average cost of $36.02 per share, with a total value of $251,779.80. Following the purchase, the director owned 292,430 shares in the company, valued at $10,533,328.60. The trade was a 2.45% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.50% of the stock is 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.