Millennium Management LLC Decreases Stake in Tamboran Resources Corp (NYSE:TBN)

Millennium Management LLC lowered its position in Tamboran Resources Corp (NYSE:TBN) by 42.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,250 shares of the company’s stock after selling 18,719 shares during the quarter. Millennium Management LLC owned approximately 0.18% of Tamboran Resources worth $530,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TBN. Bank of America Corp DE lifted its position 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. Yaupon Capital Management LP lifted its position in shares of Tamboran Resources by 126.4% during the 4th quarter. Yaupon Capital Management LP now owns 315,544 shares of the company’s stock worth $6,623,000 after buying an additional 176,189 shares during the last quarter. HITE Hedge Asset Management LLC lifted its position in shares of Tamboran Resources by 4.5% during the 4th quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company’s stock worth $10,735,000 after buying an additional 22,004 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its position in shares of Tamboran Resources by 13.0% during the 4th quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company’s stock worth $1,502,000 after buying an additional 8,205 shares during the last quarter.

Analyst Ratings Changes

TBN has been the subject of several recent analyst reports. Northland Securities initiated coverage on shares of Tamboran Resources in a research report on Wednesday, May 28th. They set an “outperform” rating and a $36.00 price objective for the company. Northland Capmk upgraded shares of Tamboran Resources to a “strong-buy” rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $36.50.

Tamboran Resources Trading Up 1.4%

TBN opened at $21.37 on Monday. The firm has a 50 day moving average price of $21.28 and a 200 day moving average price of $21.60. Tamboran Resources Corp has a 1 year low of $15.75 and a 1 year high of $34.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Analysts forecast that Tamboran Resources Corp will post -1.86 EPS for the current year.

Tamboran Resources Profile

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.