Cooper Investors PTY Ltd. Buys 130,157 Shares of Tamboran Resources Corporation $TBN

Cooper Investors PTY Ltd. boosted its stake in Tamboran Resources Corporation (NYSE:TBN) by 514.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,479 shares of the company’s stock after purchasing an additional 130,157 shares during the quarter. Tamboran Resources comprises 2.3% of Cooper Investors PTY Ltd.’s investment portfolio, making the stock its 19th biggest position. Cooper Investors PTY Ltd.’s holdings in Tamboran Resources were worth $5,055,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE increased 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 bought a new stake in shares of Tamboran Resources during the 2nd quarter worth approximately $1,194,000. State of Wyoming acquired a new stake in shares of Tamboran Resources during the 2nd quarter worth approximately $99,000. UBS Group AG boosted its position in shares of Tamboran Resources by 170.9% during the 3rd quarter. UBS Group AG now owns 278,938 shares of the company’s stock worth $7,637,000 after acquiring an additional 175,973 shares in the last quarter. Finally, HighTower Advisors LLC bought a new stake in Tamboran Resources during the fourth quarter worth $493,000.

Analyst Ratings Changes

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

Tamboran Resources Price Performance

TBN stock opened at $32.44 on Wednesday. The company has a market capitalization of $918.70 million, a P/E ratio of -17.35 and a beta of -2.08. 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 52-week low of $19.55 and a 52-week high of $52.21. The company has a fifty day moving average price of $33.29 and a 200-day moving average price of $33.22.

Tamboran Resources (NYSE:TBN) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). As a group, equities analysts expect that Tamboran Resources Corporation will post -1.41 EPS for the current year.

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.