Phillip Pace Purchases 2,000 Shares of Tamboran Resources (NYSE:TBN) Stock

Tamboran Resources Corporation (NYSE:TBN) Director Phillip Pace acquired 2,000 shares of Tamboran Resources stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $23.50 per share, with a total value of $47,000.00. Following the completion of the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at approximately $47,000. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tamboran Resources Stock Down 0.3%

Shares of TBN traded down $0.06 on Tuesday, reaching $22.66. The company’s stock had a trading volume of 25,910 shares, compared to its average volume of 43,289. Tamboran Resources Corporation has a twelve month low of $15.75 and a twelve month high of $34.50. The stock has a market capitalization of $464.30 million, a PE ratio of -8.82 and a beta of 0.26. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.02. The firm has a fifty day moving average of $24.93 and a 200-day moving average of $22.19.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.21). The business had revenue of ($0.66) million during the quarter, compared to analyst estimates of $0.51 million. Equities analysts predict that Tamboran Resources Corporation will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TBN. Financial Management Professionals Inc. purchased a new position in shares of Tamboran Resources in the 3rd quarter worth about $27,000. Bank of America Corp DE grew 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 worth $31,000 after acquiring an additional 600 shares during the last quarter. State of Wyoming bought a new position in Tamboran Resources during the 2nd quarter valued at approximately $99,000. Arbiter Partners Capital Management LLC purchased a new stake in Tamboran Resources in the third quarter worth $1,356,000. Finally, Whitebox Advisors LLC purchased a new position in shares of Tamboran Resources during the second quarter valued at about $1,194,000.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TBN. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a report on Tuesday, October 14th. Royal Bank Of Canada upped their target price on shares of Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Tamboran Resources currently has an average rating of “Moderate Buy” and a consensus target price of $36.75.

Tamboran Resources Company Profile

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.