Arbiter Partners Capital Management LLC Acquires New Stake in Tamboran Resources Corporation $TBN

Arbiter Partners Capital Management LLC bought a new position in shares of Tamboran Resources Corporation (NYSE:TBN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 49,542 shares of the company’s stock, valued at approximately $1,356,000. Tamboran Resources accounts for 0.8% of Arbiter Partners Capital Management LLC’s holdings, making the stock its 20th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in shares of Tamboran Resources in the third quarter worth approximately $27,000. Bank of America Corp DE raised its holdings 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 purchasing an additional 600 shares during the last quarter. State of Wyoming bought a new stake in shares of Tamboran Resources in the 2nd quarter valued at $99,000. Whitebox Advisors LLC acquired a new stake in shares of Tamboran Resources during the second quarter worth $1,194,000. Finally, Ingalls & Snyder LLC raised its stake in Tamboran Resources by 124.1% during the third quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after buying an additional 143,194 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TBN shares. Wells Fargo & Company began coverage on Tamboran Resources in a report on Tuesday, December 2nd. They set an “overweight” rating and a $35.00 price target for the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.33.

Tamboran Resources Stock Down 0.1%

Shares of NYSE TBN opened at $30.98 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01. The company has a 50-day moving average price of $28.29 and a 200-day moving average price of $25.49. The stock has a market capitalization of $701.39 million, a P/E ratio of -16.22 and a beta of 0.13. Tamboran Resources Corporation has a 1 year low of $17.29 and a 1 year high of $32.88.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings data on Wednesday, February 11th. The company reported ($0.33) EPS for the quarter, hitting analysts’ consensus estimates of ($0.33). On average, equities research analysts forecast that Tamboran Resources Corporation will post -1.86 EPS for the current fiscal year.

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.