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

Millennium Management LLC cut its stake 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 period. Millennium Management LLC owned 0.18% of Tamboran Resources worth $530,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TBN. Bank of America Corp DE lifted its holdings in Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $31,000 after buying an additional 600 shares during the period. Ingalls & Snyder LLC lifted its holdings in Tamboran Resources by 13.0% in the fourth quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company's stock worth $1,502,000 after buying an additional 8,205 shares during the period. Yaupon Capital Management LP lifted its holdings in Tamboran Resources by 126.4% in 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. Finally, HITE Hedge Asset Management LLC lifted its holdings in Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock worth $10,735,000 after buying an additional 22,004 shares during the period.

Tamboran Resources Stock Performance

Shares of NYSE:TBN traded up $0.13 on Wednesday, hitting $22.13. 5,085 shares of the company's stock were exchanged, compared to its average volume of 32,200. Tamboran Resources Corp has a 12 month low of $15.75 and a 12 month high of $34.50. The business's 50 day simple moving average is $21.21 and its two-hundred day simple moving average is $21.63. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.02.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.09). Research analysts anticipate that Tamboran Resources Corp will post -1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Tamboran Resources Profile

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.