Alyeska Investment Group L.P. Invests $8.82 Million in Tamboran Resources Corporation $TBN

Key Points

• Alyeska Investment Group purchased 271,242 Tamboran Resources shares worth approximately $8.82 million, giving it a 0.96% stake. Several other institutional investors also initiated or increased positions.
• Tamboran shares were up 1.7% at $37.78, with a market capitalization of about $1.07 billion and a 12-month trading range of $19.55 to $52.21.
• Analyst sentiment remains mixed: four analysts rate the stock Buy and two rate it Sell, resulting in an overall Hold consensus and an average price target of $58.50.

Alyeska Investment Group L.P. purchased a new position in shares of Tamboran Resources Corporation (NYSE:TBN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 271,242 shares of the company's stock, valued at approximately $8,818,000. Alyeska Investment Group L.P. owned approximately 0.96% of Tamboran Resources at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in shares of Tamboran Resources during the 2nd quarter worth about $39,000. Deutsche Bank AG acquired a new position in shares of Tamboran Resources during the 2nd quarter worth approximately $42,000. Avalon Trust Co bought a new position in shares of Tamboran Resources during the second quarter worth approximately $44,000. Bank of America Corp DE increased its holdings in shares of Tamboran Resources by 66.7% during 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. Finally, State of Wyoming acquired a new stake in shares of Tamboran Resources in the second quarter valued at approximately $99,000.

Tamboran Resources Stock Up 1.7%

TBN stock opened at $37.78 on Tuesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -20.20 and a beta of -2.08. 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 Corporation has a 12 month low of $19.55 and a 12 month high of $52.21. The firm has a 50-day moving average price of $33.91 and a 200-day moving average price of $34.36.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TBN. Weiss Ratings reissued a "sell (d)" rating on shares of Tamboran Resources in a research report on Monday, July 6th. Roth Capital initiated coverage on Tamboran Resources in a report on Thursday, May 21st. They issued a "buy" rating and a $47.00 price objective for the company. Finally, Zacks Research downgraded Tamboran Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $58.50.

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.

Want to see what other hedge funds are holding TBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tamboran Resources Corporation (NYSE:TBN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source