Clough Capital Partners L P Acquires New Stake in Tamboran Resources Corporation $TBN

Key Points

• Clough Capital Partners initiated a position in Tamboran Resources, purchasing 46,881 shares worth approximately $2.34 million and representing about 0.17% of the company.
• Institutional ownership has generally increased, with HITE Hedge Asset Management, Alberta Investment Management, Encompass Capital Advisors, Yaupon Capital Management, and UBS Group all adding shares recently.
• Analyst sentiment is broadly positive: four analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $58.50 versus the $34.25 opening price.

Clough Capital Partners L P bought a new position in shares of Tamboran Resources Corporation (NYSE:TBN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 46,881 shares of the company's stock, valued at approximately $2,344,000. Clough Capital Partners L P owned approximately 0.17% of Tamboran Resources at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC increased its position in shares of Tamboran Resources by 17.2% during the 4th quarter. HITE Hedge Asset Management LLC now owns 2,036,603 shares of the company's stock valued at $55,457,000 after purchasing an additional 299,028 shares during the period. Alberta Investment Management Corp lifted its holdings in shares of Tamboran Resources by 13.2% in the fourth quarter. Alberta Investment Management Corp now owns 858,680 shares of the company's stock valued at $23,382,000 after buying an additional 100,000 shares during the period. Encompass Capital Advisors LLC boosted its stake in Tamboran Resources by 26.6% during the fourth quarter. Encompass Capital Advisors LLC now owns 713,698 shares of the company's stock valued at $19,434,000 after buying an additional 150,000 shares in the last quarter. Yaupon Capital Management LP boosted its stake in Tamboran Resources by 10.7% during the fourth quarter. Yaupon Capital Management LP now owns 515,544 shares of the company's stock valued at $14,038,000 after buying an additional 50,000 shares in the last quarter. Finally, UBS Group AG grew its holdings in Tamboran Resources by 55.4% during the fourth quarter. UBS Group AG now owns 433,598 shares of the company's stock worth $11,807,000 after acquiring an additional 154,660 shares during the period.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Roth Capital began coverage on shares of Tamboran Resources in a research report on Thursday, May 21st. They issued a "buy" rating and a $47.00 price target on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Tamboran Resources in a research note on Monday, July 6th. Royal Bank Of Canada upgraded shares of Tamboran Resources from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $38.00 to $55.00 in a report on Wednesday, April 29th. Piper Sandler reissued an "overweight" rating and set a $74.00 target price (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company raised their target price on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $58.50.

Tamboran Resources Stock Up 0.2%

Shares of Tamboran Resources stock opened at $34.25 on Monday. Tamboran Resources Corporation has a 12-month low of $19.28 and a 12-month high of $52.21. The firm has a market capitalization of $969.93 million, a PE ratio of -18.31 and a beta of -2.10. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average is $33.71 and its 200-day moving average is $32.92.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.06). Equities analysts anticipate that Tamboran Resources Corporation will post -1.41 earnings per share for the current year.

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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