Ingalls & Snyder LLC Has $7.08 Million Position in Tamboran Resources Corporation $TBN

Ingalls & Snyder LLC raised its holdings in shares of Tamboran Resources Corporation (NYSE:TBN) by 124.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,534 shares of the company’s stock after purchasing an additional 143,194 shares during the quarter. Ingalls & Snyder LLC owned 1.45% of Tamboran Resources worth $7,079,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in Tamboran Resources by 66.7% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after purchasing an additional 600 shares during the last quarter. Alberta Investment Management Corp lifted its holdings in Tamboran Resources by 116.8% during the second quarter. Alberta Investment Management Corp now owns 758,680 shares of the company’s stock worth $16,175,000 after acquiring an additional 408,680 shares during the period. Whitebox Advisors LLC purchased a new position in Tamboran Resources in the second quarter worth $1,194,000. State of Wyoming bought a new position in Tamboran Resources in the 2nd quarter valued at $99,000. Finally, Financial Management Professionals Inc. bought a new position in Tamboran Resources in the 3rd quarter valued at $27,000.

Insider Activity at Tamboran Resources

In related news, Director Phillip Z. Pace purchased 2,000 shares of Tamboran Resources stock in a transaction dated Friday, November 21st. The stock was bought at an average cost of $23.50 per share, for a total transaction of $47,000.00. Following the completion of the transaction, the director owned 2,000 shares in the company, valued at $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 accessible through this link. 4.50% of the stock is owned by insiders.

Tamboran Resources Price Performance

Shares of NYSE:TBN opened at $28.88 on Wednesday. The firm has a market capitalization of $653.89 million, a PE ratio of -15.12 and a beta of 0.18. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.09. The company has a 50-day moving average price of $26.98 and a two-hundred day moving average price of $24.73. Tamboran Resources Corporation has a twelve month low of $17.29 and a twelve month high of $31.90.

Tamboran Resources (NYSE:TBN) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($0.33) EPS for the quarter, meeting analysts’ consensus estimates of ($0.33). The business had revenue of $0.05 million for the quarter. Equities analysts forecast that Tamboran Resources Corporation will post -1.86 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Friday, January 9th. Royal Bank Of Canada lifted their price objective on shares of Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company started coverage on shares of Tamboran Resources in a research note on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.33.

Tamboran Resources Company 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.