27,100 Shares in Tamboran Resources Corporation $TBN Purchased by Walleye Capital LLC

Walleye Capital LLC acquired a new position in Tamboran Resources Corporation (NYSE:TBN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 27,100 shares of the company’s stock, valued at approximately $881,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake 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 last quarter. State of Wyoming purchased a new position in shares of Tamboran Resources in the 2nd quarter worth approximately $99,000. Janney Montgomery Scott LLC purchased a new position in shares of Tamboran Resources in the 1st quarter worth approximately $240,000. Arbiter Partners Capital Management LLC grew its holdings in shares of Tamboran Resources by 15.5% in the fourth quarter. Arbiter Partners Capital Management LLC now owns 57,212 shares of the company’s stock valued at $1,558,000 after acquiring an additional 7,670 shares in the last quarter. Finally, XY Capital Ltd bought a new position in shares of Tamboran Resources in the fourth quarter valued at approximately $253,000.

Tamboran Resources Stock Up 2.5%

TBN opened at $36.77 on Friday. Tamboran Resources Corporation has a twelve month low of $19.55 and a twelve month high of $52.21. The company’s 50-day moving average price is $33.42 and its two-hundred day moving average price is $33.62. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -19.66 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). As a group, equities analysts expect that Tamboran Resources Corporation will post -1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TBN. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Zacks Research downgraded Tamboran Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th. Roth Capital initiated coverage on Tamboran Resources in a research report on Thursday, May 21st. They set a “buy” rating and a $47.00 target price for the company. Finally, Royal Bank Of Canada upgraded 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 research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Tamboran Resources has a consensus rating of “Hold” and a consensus price target of $58.50.

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.