Tamboran Resources Corporation $TBN Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp lifted its position in shares of Tamboran Resources Corporation (NYSE:TBN) by 13.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 858,680 shares of the company’s stock after buying an additional 100,000 shares during the quarter. Alberta Investment Management Corp owned approximately 3.79% of Tamboran Resources worth $23,382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of 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 last quarter. State of Wyoming acquired a new position in shares of Tamboran Resources during the 2nd quarter worth $99,000. Walleye Capital LLC acquired a new position in shares of Tamboran Resources during the 4th quarter worth $204,000. XY Capital Ltd acquired a new position in shares of Tamboran Resources during the 4th quarter worth $253,000. Finally, HighTower Advisors LLC acquired a new position in shares of Tamboran Resources during the 4th quarter worth $493,000.

Tamboran Resources Trading Down 10.1%

Tamboran Resources stock opened at $36.30 on Tuesday. The stock has a market cap of $1.03 billion, a PE ratio of -19.41 and a beta of -2.20. The stock has a 50-day moving average price of $35.99 and a 200 day moving average price of $31.41. Tamboran Resources Corporation has a 52 week low of $17.29 and a 52 week high of $52.21. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on TBN shares. Piper Sandler reaffirmed an “overweight” rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Wells Fargo & Company lifted their price objective on Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Wednesday, April 8th. Roth Mkm began coverage on Tamboran Resources in a research report on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective for the company. Finally, Royal Bank Of Canada upgraded Tamboran Resources from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $38.00 to $55.00 in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy 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 a consensus target price of $58.50.

Insider Activity

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

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.