Alberta Investment Management Corp Boosts Holdings in Tamboran Resources Corporation $TBN

Alberta Investment Management Corp raised its holdings in Tamboran Resources Corporation (NYSE:TBN) by 13.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 858,680 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Alberta Investment Management Corp’s holdings in Tamboran Resources were worth $23,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TBN. Bank of America Corp DE grew its holdings in Tamboran Resources by 66.7% in the 4th 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 purchased a new stake in shares of Tamboran Resources during the 2nd quarter worth about $1,194,000. State of Wyoming purchased a new stake in shares of Tamboran Resources during the 2nd quarter worth about $99,000. Ingalls & Snyder LLC grew its holdings 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 purchasing an additional 143,194 shares during the period. Finally, Arbiter Partners Capital Management LLC purchased a new stake in shares of Tamboran Resources during the 3rd quarter worth about $1,356,000.

Analysts Set New Price Targets

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

Tamboran Resources Stock Down 10.1%

Shares of NYSE:TBN opened at $36.30 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. Tamboran Resources Corporation has a 1 year low of $17.29 and a 1 year high of $52.21. The stock has a market capitalization of $1.03 billion, a P/E ratio of -19.41 and a beta of -2.20. The stock has a 50-day simple moving average of $35.99 and a 200-day simple moving average of $31.41.

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

Insider Activity at Tamboran Resources

In related news, Director Scott D. Sheffield purchased 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 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Phillip Z. Pace purchased 10,000 shares of Tamboran Resources stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average cost 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 in the company, valued at $1,324,574.91. This represents a 38.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 4.50% of the company’s stock.

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.