Ranger Investment Management L.P. Takes $2.61 Million Position in Tamboran Resources Corporation $TBN

Key Points

• Ranger Investment Management acquired 80,248 shares of Tamboran Resources in the second quarter, valued at approximately $2.61 million and representing about 0.28% of the company.
• Institutional interest was mixed, with UBS significantly increasing its position and several funds initiating new stakes. Analyst sentiment remains divided, resulting in a consensus “Hold” rating and an average price target of $58.50.
• Tamboran shares opened at $38.00, versus a 52-week range of $19.55 to $52.21. The company is focused on developing unconventional natural gas resources in Australia’s Beetaloo Basin.

Ranger Investment Management L.P. purchased a new stake in Tamboran Resources Corporation (NYSE:TBN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 80,248 shares of the company's stock, valued at approximately $2,609,000. Ranger Investment Management L.P. owned about 0.28% of Tamboran Resources at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings 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 worth $31,000 after buying an additional 600 shares during the last quarter. Whitebox Advisors LLC acquired a new stake in Tamboran Resources during the second quarter worth approximately $1,194,000. State of Wyoming acquired a new position in shares of Tamboran Resources in the second quarter valued at approximately $99,000. UBS Group AG grew its position in shares of Tamboran Resources by 170.9% in the third quarter. UBS Group AG now owns 278,938 shares of the company's stock valued at $7,637,000 after purchasing an additional 175,973 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in shares of Tamboran Resources during the fourth quarter worth approximately $493,000.

Wall Street Analyst Weigh In

TBN has been the topic of a number of recent research reports. Zacks Research lowered shares of Tamboran Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 29th. Weiss Ratings restated a "sell (d)" rating on shares of Tamboran Resources in a research report on Monday, July 6th. Royal Bank Of Canada raised 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 research note on Wednesday, April 29th. Finally, Roth Capital assumed coverage on Tamboran Resources in a research note on Thursday, May 21st. They issued a "buy" rating and a $47.00 price target for the company. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Tamboran Resources currently has a consensus rating of "Hold" and a consensus price target of $58.50.

Tamboran Resources Trading Up 0.1%

Shares of TBN stock opened at $38.00 on Monday. Tamboran Resources Corporation has a 1-year low of $19.55 and a 1-year high of $52.21. 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 stock has a market cap of $1.08 billion, a price-to-earnings ratio of -20.32 and a beta of -2.08. The stock has a 50-day moving average of $33.68 and a 200-day moving average of $33.97.

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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