BlackRock Inc. Buys Shares of 68,011 Tamboran Resources Corporation $TBN

BlackRock Inc. purchased a new position in Tamboran Resources Corporation (NYSE:TBN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 68,011 shares of the company's stock, valued at approximately $2,211,000. BlackRock Inc. owned approximately 0.24% of Tamboran Resources at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $31,000 after purchasing an additional 600 shares in the last quarter. Deutsche Bank AG purchased a new position in shares of Tamboran Resources in the 2nd quarter worth about $42,000. Avalon Trust Co bought a new position in shares of Tamboran Resources during the 2nd quarter valued at about $44,000. State of Wyoming bought a new position in shares of Tamboran Resources during the 2nd quarter valued at about $99,000. Finally, Walleye Capital LLC purchased a new position in shares of Tamboran Resources during the 4th quarter valued at about $204,000.

Tamboran Resources Stock Performance

Tamboran Resources stock opened at $39.31 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $34.46 and a 200-day moving average of $34.62. The firm has a market cap of $1.11 billion, a P/E ratio of -21.02 and a beta of -2.03. Tamboran Resources Corporation has a 1-year low of $19.55 and a 1-year high of $52.21.

Analyst Ratings Changes

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

Tamboran Resources Profile

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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