Arbiter Partners Capital Management LLC Makes New $1.36 Million Investment in Tamboran Resources Corporation $TBN

Key Points

• Arbiter Partners bought 49,542 shares of Tamboran Resources (NYSE:TBN) in Q3 valued at about $1.36 million, making TBN its 20th-largest holding and roughly 0.8% of the fund's portfolio.
• Other institutions also increased exposure: Alberta Investment Management more than doubled its stake to 758,680 shares (~$16.2M) and Ingalls & Snyder raised its position to 258,534 shares (~$7.08M), while Whitebox Advisors and the State of Wyoming initiated new stakes.
• Tamboran trades near $31 with a market cap of about $701M and a negative PE (-16.22); analysts have a consensus rating of "Moderate Buy" and an average target of roughly $36.33.

Arbiter Partners Capital Management LLC bought a new stake in Tamboran Resources Corporation (NYSE:TBN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,542 shares of the company's stock, valued at approximately $1,356,000. Tamboran Resources accounts for 0.8% of Arbiter Partners Capital Management LLC's portfolio, making the stock its 20th biggest position. Arbiter Partners Capital Management LLC owned 0.28% of Tamboran Resources as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Alberta Investment Management Corp grew 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 worth $16,175,000 after purchasing an additional 408,680 shares in the last quarter. Ingalls & Snyder LLC increased its stake in Tamboran Resources by 124.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company's stock worth $7,079,000 after acquiring an additional 143,194 shares during the period. Bank of America Corp DE raised its holdings 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 valued at $31,000 after acquiring an additional 600 shares in the last quarter. State of Wyoming bought a new stake in shares of Tamboran Resources during the 2nd quarter valued at $99,000. Finally, Whitebox Advisors LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter worth $1,194,000.

Tamboran Resources Price Performance

Shares of TBN opened at $30.98 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.09. The stock has a market cap of $701.39 million, a PE ratio of -16.22 and a beta of 0.13. Tamboran Resources Corporation has a 12-month low of $17.29 and a 12-month high of $32.88. The business has a 50-day simple moving average of $28.29 and a two-hundred day simple moving average of $25.49.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($0.33) earnings per share for the quarter, hitting the consensus estimate of ($0.33). Analysts anticipate that Tamboran Resources Corporation will post -1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on TBN shares. Wells Fargo & Company initiated coverage on Tamboran Resources in a research note on Tuesday, December 2nd. They issued an "overweight" rating and a $35.00 price target for the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Tamboran Resources in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $36.33.

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.

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