Key Points
- Director Phillip Pace purchased 2,000 shares of Tamboran (NYSE:TBN) on Nov. 21 at $23.50 each for about $47,000, bringing his holdings to 2,000 shares per an SEC filing.
- Tamboran missed quarterly expectations with EPS of ($0.47) and revenue of ($0.66)m versus a $0.51m consensus, while trading with a negative P/E (-8.82), market cap of ~$464M, and a 52‑week range of $15.75–$34.50.
- Despite recent weak results, analysts average a "Moderate Buy" rating with a $36.75 target, and several institutions (HITE, UBS, Bank of America) materially increased or initiated positions in Q3.
Tamboran Resources Corporation (NYSE:TBN - Get Free Report) Director Phillip Pace purchased 2,000 shares of the stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $23.50 per share, for a total transaction of $47,000.00. Following the completion of the purchase, the director owned 2,000 shares in the company, valued at approximately $47,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Tamboran Resources Stock Down 0.3%
Shares of NYSE TBN opened at $22.66 on Wednesday. The stock has a market capitalization of $464.30 million, a price-to-earnings ratio of -8.82 and a beta of 0.26. Tamboran Resources Corporation has a 52 week low of $15.75 and a 52 week high of $34.50. The firm has a 50-day moving average price of $24.93 and a 200 day moving average price of $22.19. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.02.
Tamboran Resources (NYSE:TBN - Get Free Report) last issued its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.21). The business had revenue of ($0.66) million for the quarter, compared to the consensus estimate of $0.51 million. Equities research analysts anticipate that Tamboran Resources Corporation will post -1.86 EPS for the current fiscal year.
Institutional Investors Weigh In On Tamboran Resources
A number of institutional investors and hedge funds have recently bought and sold shares of TBN. Bank of America Corp DE increased its position in Tamboran Resources by 167.1% during the third quarter. Bank of America Corp DE now owns 31,482 shares of the company's stock worth $862,000 after buying an additional 19,694 shares in the last quarter. HITE Hedge Asset Management LLC lifted its position in shares of Tamboran Resources by 44.0% in the third quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company's stock valued at $47,575,000 after acquiring an additional 530,850 shares in the last quarter. UBS Group AG boosted its stake in shares of Tamboran Resources by 170.9% during the third quarter. UBS Group AG now owns 278,938 shares of the company's stock valued at $7,637,000 after acquiring an additional 175,973 shares during the last quarter. Arbiter Partners Capital Management LLC purchased a new stake in Tamboran Resources during the 3rd quarter worth about $1,356,000. Finally, Ingalls & Snyder LLC raised its stake in Tamboran Resources by 124.1% in the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company's stock valued at $7,079,000 after purchasing an additional 143,194 shares during the last quarter.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Tamboran Resources in a report on Tuesday, October 14th. Royal Bank Of Canada raised their price target on Tamboran Resources from $30.00 to $38.00 and gave the company a "sector perform" rating in a research report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tamboran Resources presently has an average rating of "Moderate Buy" and an average target price of $36.75.
Get Our Latest Stock Report on TBN
Tamboran Resources Company Profile
(
Get Free Report)
Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.
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