Tamboran Resources (NYSE:TBN) Director Acquires $47,000.00 in Stock

by · The Markets Daily

Tamboran Resources Corporation (NYSE:TBN – Get Free Report) Director Phillip Pace purchased 2,000 shares of Tamboran Resources stock in a transaction on Friday, November 21st. The stock was bought at an average price of $23.50 per share, for a total transaction of $47,000.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $47,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Tamboran Resources Trading Down 0.3%

Shares of TBN traded down $0.06 during mid-day trading on Tuesday, reaching $22.66. 25,910 shares of the company were exchanged, compared to its average volume of 43,289. The business has a 50 day simple moving average of $24.93 and a two-hundred day simple moving average of $22.19. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $464.30 million, a PE ratio of -8.82 and a beta of 0.26. Tamboran Resources Corporation has a 52 week low of $15.75 and a 52 week high of $34.50.

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TBN. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Tuesday, October 14th. Royal Bank Of Canada lifted their price objective on Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Get Our Latest Report on Tamboran Resources

Institutional Investors Weigh In On Tamboran Resources

A number of large investors have recently bought and sold shares of TBN. Financial Management Professionals Inc. acquired a new position in shares of Tamboran Resources during the third quarter valued at about $27,000. Bank of America Corp DE raised 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 worth $31,000 after buying an additional 600 shares during the period. State of Wyoming bought a new position in Tamboran Resources in the second quarter worth approximately $99,000. Whitebox Advisors LLC bought a new position in Tamboran Resources in the second quarter worth approximately $1,194,000. Finally, Arbiter Partners Capital Management LLC acquired a new stake in Tamboran Resources in the third quarter valued at approximately $1,356,000.

Tamboran Resources Company Profile

(Get Free Report)

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.

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