Baupost Group LLC MA Sells 313,607 Shares of Tamboran Resources Corporation $TBN

Baupost Group LLC MA trimmed its position in shares of Tamboran Resources Corporation (NYSE:TBN) by 54.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 257,226 shares of the company’s stock after selling 313,607 shares during the quarter. Tamboran Resources accounts for 0.1% of Baupost Group LLC MA’s portfolio, making the stock its 22nd largest position. Baupost Group LLC MA owned approximately 1.14% of Tamboran Resources worth $7,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake 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 purchasing an additional 600 shares during the period. State of Wyoming acquired a new position in shares of Tamboran Resources during the 2nd quarter worth about $99,000. Walleye Capital LLC acquired a new position in shares of Tamboran Resources during the 4th quarter worth about $204,000. XY Capital Ltd acquired a new position in shares of Tamboran Resources during the 4th quarter worth about $253,000. Finally, HighTower Advisors LLC acquired a new position in shares of Tamboran Resources during the 4th quarter worth about $493,000.

Insider Buying and Selling

In other Tamboran Resources news, Director Phillip Z. Pace bought 10,000 shares of the firm’s stock in a transaction on Monday, April 13th. The shares were purchased at an average price of $36.99 per share, for a total transaction of $369,900.00. Following the transaction, the director directly owned 35,809 shares in the company, valued at approximately $1,324,574.91. This trade represents a 38.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott D. Sheffield bought 6,990 shares of the firm’s stock in a transaction on Wednesday, April 8th. The shares were acquired at an average price of $36.02 per share, for a total transaction of $251,779.80. Following the transaction, the director owned 292,430 shares in the company, valued at approximately $10,533,328.60. This represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Roth Mkm assumed coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They issued a “buy” rating and a $47.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Tamboran Resources from $35.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $38.00 to $55.00 in a research note on Wednesday, April 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a report on Tuesday, March 31st. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.50.

Tamboran Resources Stock Performance

TBN opened at $39.96 on Friday. The business has a fifty day simple moving average of $36.14 and a 200 day simple moving average of $31.25. The company has a market capitalization of $1.13 billion, a PE ratio of -21.37 and a beta of -2.20. Tamboran Resources Corporation has a 1 year low of $17.29 and a 1 year high of $52.21. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00.

Tamboran Resources (NYSE:TBN) last announced its earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). Research analysts expect that Tamboran Resources Corporation will post -1.42 EPS for the current year.

About Tamboran Resources

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.