Tamboran Resources Corporation $TBN Stock: Cooper Investors PTY Ltd. Decreases Holdings

Cooper Investors PTY Ltd. cut its holdings in Tamboran Resources Corporation (NYSE:TBN) by 82.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 27,854 shares of the company’s stock after selling 127,625 shares during the period. Tamboran Resources comprises approximately 0.5% of Cooper Investors PTY Ltd.’s holdings, making the stock its 27th largest position. Cooper Investors PTY Ltd.’s holdings in Tamboran Resources were worth $918,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at about $39,000. GK Wealth Management LLC acquired a new stake in Tamboran Resources during the third quarter worth approximately $41,000. Deutsche Bank AG acquired a new stake in Tamboran Resources during the second quarter worth approximately $42,000. Avalon Trust Co bought a new stake in Tamboran Resources in the second quarter worth approximately $44,000. Finally, Janney Montgomery Scott LLC acquired a new position in Tamboran Resources in the first quarter valued at approximately $240,000.

Tamboran Resources Stock Up 4.3%

NYSE TBN traded up $1.50 during mid-day trading on Tuesday, hitting $36.03. The company’s stock had a trading volume of 108,858 shares, compared to its average volume of 153,866. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -19.27 and a beta of -1.91. The company’s 50 day simple moving average is $36.50 and its 200 day simple moving average is $35.66. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.07. Tamboran Resources Corporation has a twelve month low of $22.33 and a twelve month high of $52.21.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TBN. Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.50.

About Tamboran Resources

Tamboran Resources is an Australian natural gas exploration and development company focused on the Beetaloo Basin in the Northern Territory. The company is developing large-scale onshore natural gas resources, with an emphasis on producing lower-carbon-intensity gas for Australian energy markets.

Tamboran’s activities include exploration, appraisal drilling, resource development and the planning of production infrastructure. Its principal project area includes the Shenandoah South development in the Beetaloo Basin, where the company is working to establish a long-term supply of natural gas for domestic use and potential liquefied natural gas export markets.

Tamboran Resources is headquartered in Australia and has been led by Chief Executive Officer Joel Riddle.