Legal & General Group Plc Invests $509,000 in Tamboran Resources Corporation $TBN

Legal & General Group Plc bought a new stake in Tamboran Resources Corporation (NYSE:TBN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,642 shares of the company’s stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TBN. Bank of America Corp DE increased its holdings in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after purchasing an additional 600 shares during the period. Quantbot Technologies LP purchased a new stake in Tamboran Resources in the second quarter valued at approximately $39,000. Deutsche Bank AG acquired a new position in Tamboran Resources in the 2nd quarter worth approximately $42,000. Avalon Trust Co purchased a new position in Tamboran Resources during the 2nd quarter worth approximately $44,000. Finally, State of Wyoming acquired a new stake in Tamboran Resources during the 2nd quarter valued at approximately $99,000.

Analyst Ratings Changes

Several research analysts recently issued reports on TBN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Roth Capital initiated coverage on Tamboran Resources in a report on Thursday, May 21st. They issued a “buy” rating and a $47.00 price objective for the company. Finally, Zacks Research downgraded Tamboran Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Tamboran Resources has an average rating of “Hold” and an average target price of $58.50.

Tamboran Resources Trading Up 2.0%

Shares of NYSE TBN opened at $40.22 on Wednesday. The company has a market cap of $1.14 billion, a PE ratio of -21.51 and a beta of -2.03. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average of $34.76 and a two-hundred day moving average of $34.82. Tamboran Resources Corporation has a 1-year low of $19.55 and a 1-year high of $52.21.

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.