Tamboran Resources (NYSE:TBN) Receives Sell (D) Rating from Weiss Ratings

Weiss Ratings reiterated their sell (d) rating on shares of Tamboran Resources (NYSE:TBN) in a report issued on Tuesday morning,Weiss Ratings reports.

Separately, Royal Bank Of Canada dropped their price target on shares of Tamboran Resources from $31.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $34.75.

Tamboran Resources Trading Down 5.9%

NYSE:TBN opened at $26.69 on Tuesday. Tamboran Resources has a 12 month low of $15.75 and a 12 month high of $34.50. The firm has a market cap of $475.69 million, a price-to-earnings ratio of -10.59 and a beta of 0.32. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average is $22.76 and its 200-day moving average is $21.65.

Insider Transactions at Tamboran Resources

In other news, major shareholder Bryan Sheffield purchased 563,697 shares of the business’s stock in a transaction on Tuesday, July 22nd. The stock was purchased at an average price of $17.74 per share, with a total value of $9,999,984.78. Following the acquisition, the insider directly owned 3,123,601 shares in the company, valued at approximately $55,412,681.74. The trade was a 22.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 5.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TBN. Bank of America Corp DE lifted its position in Tamboran Resources by 66.7% in the fourth 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. HITE Hedge Asset Management LLC raised its stake in shares of Tamboran Resources by 58.3% in the 1st quarter. HITE Hedge Asset Management LLC now owns 809,505 shares of the company’s stock valued at $19,420,000 after buying an additional 298,084 shares in the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of Tamboran Resources by 36.2% during the 2nd quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company’s stock worth $2,459,000 after acquiring an additional 30,650 shares during the period. Alberta Investment Management Corp boosted its position in shares of Tamboran Resources by 116.8% during the 2nd quarter. Alberta Investment Management Corp now owns 758,680 shares of the company’s stock valued at $16,175,000 after acquiring an additional 408,680 shares in the last quarter. Finally, Whitebox Advisors LLC bought a new stake in Tamboran Resources in the second quarter valued at about $1,194,000.

Tamboran Resources Company 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.