The Manufacturers Life Insurance Company Has $11.88 Million Stock Holdings in Tamboran Resources Corporation $TBN

The Manufacturers Life Insurance Company lifted its position in shares of Tamboran Resources Corporation (NYSE:TBN) by 113.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 237,748 shares of the company’s stock after purchasing an additional 126,549 shares during the period. The Manufacturers Life Insurance Company’s holdings in Tamboran Resources were worth $11,885,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Clough Capital Partners L P acquired a new stake in Tamboran Resources during the 1st quarter worth approximately $2,344,000. Sei Investments Co. acquired a new position in Tamboran Resources in the 1st quarter valued at approximately $526,000. Walleye Capital LLC increased its position in Tamboran Resources by 6.4% in the 1st quarter. Walleye Capital LLC now owns 7,983 shares of the company’s stock valued at $399,000 after acquiring an additional 482 shares during the period. Arbiter Partners Capital Management LLC increased its position in Tamboran Resources by 17.5% in the 1st quarter. Arbiter Partners Capital Management LLC now owns 67,212 shares of the company’s stock valued at $3,360,000 after acquiring an additional 10,000 shares during the period. Finally, Janney Montgomery Scott LLC bought a new position in shares of Tamboran Resources during the first quarter valued at $240,000.

Analyst Ratings Changes

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

Tamboran Resources Trading Down 0.1%

TBN opened at $33.22 on Monday. Tamboran Resources Corporation has a twelve month low of $19.55 and a twelve month high of $52.21. The company has a fifty day moving average of $33.38 and a 200-day moving average of $33.15. The stock has a market cap of $940.82 million, a PE ratio of -17.77 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 (NYSE:TBN) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). On average, sell-side analysts predict that Tamboran Resources Corporation will post -1.41 EPS for the current year.

Tamboran Resources Company 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.