Robertson Stephens Wealth Management LLC Makes New Investment in Tamboran Resources Corporation $TBN

Key Points

• Robertson Stephens Wealth Management purchased 83,642 shares of Tamboran Resources in the third quarter, valued at approximately $2.76 million and representing a 0.24% stake.
• Other institutional investors also added or increased positions, including Alberta Investment Management, Bank of America, Manufacturers Life Insurance and Cooper Investors, which raised its holdings by 514%.
• Analyst sentiment is mixed but leans positive: Tamboran has a consensus “Moderate Buy” rating and a $60.80 price target, compared with shares opening at $31.30.

Robertson Stephens Wealth Management LLC bought a new position in Tamboran Resources Corporation (NYSE:TBN - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 83,642 shares of the company's stock, valued at approximately $2,757,000. Robertson Stephens Wealth Management LLC owned 0.24% of Tamboran Resources at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Alberta Investment Management Corp purchased a new stake in Tamboran Resources during the second quarter valued at about $27,916,000. Ranger Investment Management L.P. acquired a new stake in Tamboran Resources during the second quarter worth about $2,609,000. Bank of America Corp DE acquired a new stake in Tamboran Resources during the second quarter worth about $2,938,000. The Manufacturers Life Insurance Company acquired a new stake in Tamboran Resources during the second quarter worth about $8,040,000. Finally, Cooper Investors PTY Ltd. raised its holdings in shares of Tamboran Resources by 514.0% in the 2nd quarter. Cooper Investors PTY Ltd. now owns 155,479 shares of the company's stock worth $5,055,000 after purchasing an additional 130,157 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen raised Tamboran Resources from a "strong sell" rating to a "sell" rating in a research note on Saturday. Zacks Research upgraded Tamboran Resources from a "strong sell" rating to a "hold" rating in a report on Monday, September 21st. Scotiabank initiated coverage on shares of Tamboran Resources in a research report on Wednesday. They set an "outperform" rating and a $70.00 target price for the company. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Tamboran Resources in a research report on Friday, October 2nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Tamboran Resources currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.80.

Tamboran Resources Stock Performance

Shares of TBN stock opened at $31.30 on Monday. The company's fifty day simple moving average is $36.56 and its 200-day simple moving average is $35.53. Tamboran Resources Corporation has a 52 week low of $22.33 and a 52 week high of $52.21. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.09 billion, a PE ratio of -16.74 and a beta of -1.91.

About Tamboran Resources

Tamboran Resources is an Australian natural gas exploration and development company focused on the Beetaloo Basin in the Northern Territory. The company is developing large-scale onshore natural gas resources, with an emphasis on producing lower-carbon-intensity gas for Australian energy markets.

Tamboran's activities include exploration, appraisal drilling, resource development and the planning of production infrastructure. Its principal project area includes the Shenandoah South development in the Beetaloo Basin, where the company is working to establish a long-term supply of natural gas for domestic use and potential liquefied natural gas export markets.

Tamboran Resources is headquartered in Australia and has been led by Chief Executive Officer Joel Riddle.

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