UBS Group AG Acquires 154,660 Shares of Tamboran Resources Corporation $TBN

UBS Group AG grew its holdings in Tamboran Resources Corporation (NYSE:TBN) by 55.4% during the 4th quarter, Holdings Channel reports. The fund owned 433,598 shares of the company’s stock after buying an additional 154,660 shares during the period. UBS Group AG’s holdings in Tamboran Resources were worth $11,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TBN. Bank of America Corp DE increased its stake 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 worth $31,000 after purchasing an additional 600 shares in the last quarter. Whitebox Advisors LLC purchased a new stake in shares of Tamboran Resources in the second quarter worth $1,194,000. State of Wyoming purchased a new stake in shares of Tamboran Resources in the second quarter worth $99,000. Ingalls & Snyder LLC increased its stake in shares of Tamboran Resources by 124.1% in the third 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 in the last quarter. Finally, Arbiter Partners Capital Management LLC purchased a new stake in shares of Tamboran Resources in the third quarter worth $1,356,000.

Insider Buying and Selling at Tamboran Resources

In other Tamboran Resources news, Director Phillip Z. Pace acquired 10,000 shares of the stock in a transaction on Monday, April 13th. The stock was acquired at an average price 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 of the company’s stock, valued at $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 hyperlink. Also, Director Scott D. Sheffield acquired 6,990 shares of the stock in a transaction on Wednesday, April 8th. The shares were acquired at an average price of $36.02 per share, with a total value of $251,779.80. Following the transaction, the director directly owned 292,430 shares of the company’s stock, valued at $10,533,328.60. The trade was a 2.45% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 4.50% of the company’s stock.

Tamboran Resources Stock Performance

TBN opened at $36.36 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of -19.44 and a beta of -2.17. The company has a fifty day moving average of $35.80 and a 200 day moving average of $29.78. Tamboran Resources Corporation has a fifty-two week low of $17.29 and a fifty-two week high of $52.21. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.01 and a current ratio of 2.00.

Tamboran Resources (NYSE:TBN) last posted its earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $2.40 million. As a group, sell-side analysts forecast that Tamboran Resources Corporation will post -1.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TBN. Wells Fargo & Company increased their price objective on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Royal Bank Of Canada raised shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $38.00 to $55.00 in a research note on Wednesday, April 29th. Piper Sandler reaffirmed an “overweight” rating and set a $74.00 target price (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tamboran Resources has an average rating of “Moderate Buy” and an average target price of $55.75.

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.