Millennium Management LLC Lowers Stock Position in Tamboran Resources Corp (NYSE:TBN)

Millennium Management LLC lowered its position in Tamboran Resources Corp (NYSE:TBN - Free Report) by 42.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,250 shares of the company's stock after selling 18,719 shares during the quarter. Millennium Management LLC owned 0.18% of Tamboran Resources worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of the stock. Yaupon Capital Management LP increased its position in shares of Tamboran Resources by 126.4% during the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock worth $6,623,000 after buying an additional 176,189 shares during the period. HITE Hedge Asset Management LLC increased its stake in Tamboran Resources by 4.5% during the 4th quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock valued at $10,735,000 after purchasing an additional 22,004 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in shares of Tamboran Resources by 13.0% in the 4th quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company's stock worth $1,502,000 after acquiring an additional 8,205 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Tamboran Resources by 66.7% in 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.

Analyst Ratings Changes

Several analysts have recently commented on TBN shares. Northland Securities began coverage on shares of Tamboran Resources in a report on Wednesday, May 28th. They issued an "outperform" rating and a $36.00 target price for the company. Northland Capmk raised shares of Tamboran Resources to a "strong-buy" rating in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tamboran Resources presently has a consensus rating of "Buy" and a consensus price target of $36.50.

Tamboran Resources Stock Performance

NYSE TBN remained flat at $22.00 during trading hours on Thursday. 4,070 shares of the company were exchanged, compared to its average volume of 32,083. The firm has a 50-day simple moving average of $21.21 and a 200 day simple moving average of $21.64. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77. Tamboran Resources Corp has a 1-year low of $15.75 and a 1-year high of $34.50.

Tamboran Resources (NYSE:TBN - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09). On average, research analysts predict that Tamboran Resources Corp will post -1.86 EPS for the current year.

About Tamboran Resources

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.