Cooper Investors PTY Ltd. Has $5.05 Million Stock Position in Tamboran Resources Corporation $TBN

Key Points

• Cooper Investors increased its Tamboran Resources stake by 514% in the second quarter, adding 130,157 shares to hold 155,479 shares worth approximately $5.05 million, or 0.55% of the company.
• Analyst sentiment is mixed: four analysts rate TBN a Buy and two rate it a Sell, resulting in a consensus “Hold” rating and an average price target of $58.50. Recent actions included a Zacks downgrade to “Strong Sell” and an RBC upgrade to “Outperform.”
• Tamboran shares opened at $32.44, well below their 12-month high of $52.21. The company reported a quarterly loss of $0.42 per share, missing estimates of a $0.36 loss, and analysts expect a full-year loss of $1.41 per share.

Cooper Investors PTY Ltd. increased its stake in Tamboran Resources Corporation (NYSE:TBN - Free Report) by 514.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 155,479 shares of the company's stock after buying an additional 130,157 shares during the quarter. Tamboran Resources makes up 2.3% of Cooper Investors PTY Ltd.'s holdings, making the stock its 19th biggest position. Cooper Investors PTY Ltd. owned about 0.55% of Tamboran Resources worth $5,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of 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 during the period. State of Wyoming acquired a new position in shares of Tamboran Resources during the 2nd quarter worth approximately $99,000. Walleye Capital LLC acquired a new position in shares of Tamboran Resources during the 4th quarter worth approximately $204,000. Janney Montgomery Scott LLC bought a new stake in Tamboran Resources in the 1st quarter valued at $240,000. Finally, XY Capital Ltd bought a new stake in Tamboran Resources in the 4th quarter valued at $253,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TBN. Zacks Research cut shares of Tamboran Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "sell (d)" rating on shares of Tamboran Resources in a research report on Monday, July 6th. Roth Capital assumed coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a "buy" rating and a $47.00 target price for the company. Finally, Royal Bank Of Canada raised shares of Tamboran Resources from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $38.00 to $55.00 in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Tamboran Resources presently has an average rating of "Hold" and a consensus target price of $58.50.

Tamboran Resources Stock Performance

Shares of NYSE:TBN opened at $32.44 on Wednesday. The company's 50 day moving average price is $33.29 and its two-hundred day moving average price is $33.22. Tamboran Resources Corporation has a 12-month low of $19.55 and a 12-month high of $52.21. The firm has a market cap of $918.70 million, a PE ratio of -17.35 and a beta of -2.08. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10.

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

Tamboran Resources Company 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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