Tamboran Resources (NYSE:TBN) Director Buys $251,779.80 in Stock

Key Points

• Director Scott Sheffield bought 6,990 shares at an average of $36.02 for a total of $251,779.80, increasing his holdings to 292,430 shares (a 2.45% boost) valued at about $10.53 million.
• TBN shares traded up 1.1% to $35.75, with a market cap of roughly $809 million and a 12‑month trading range of $17.29 to $52.21.
• Analyst coverage is mixed but the consensus is a Moderate Buy with an average target of $51.50, while Piper Sandler and Wells Fargo raised targets to $74 and $58 respectively and Weiss Ratings maintained a sell.

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) Director Scott Sheffield bought 6,990 shares of the stock in a transaction on Wednesday, April 8th. The stock was acquired at an average price of $36.02 per share, with a total value of $251,779.80. Following the completion of the acquisition, the director owned 292,430 shares of the company's stock, valued at $10,533,328.60. This represents a 2.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tamboran Resources Stock Up 1.1%

TBN stock traded up $0.40 during trading on Friday, reaching $35.75. 128,773 shares of the stock were exchanged, compared to its average volume of 118,274. The firm's 50 day moving average is $32.75 and its 200 day moving average is $28.08. The firm has a market cap of $809.27 million, a P/E ratio of -18.71 and a beta of -1.60. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09. Tamboran Resources Corporation has a twelve month low of $17.29 and a twelve month high of $52.21.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.33) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.33). As a group, research analysts forecast that Tamboran Resources Corporation will post -1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Tamboran Resources in a research note on Wednesday. Piper Sandler reiterated an "overweight" rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a report on Tuesday, March 31st. Finally, Wells Fargo & Company increased their price target on Tamboran Resources from $35.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Hedge Funds Weigh In On Tamboran Resources

Institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new position in Tamboran Resources in the third quarter worth $27,000. Bank of America Corp DE increased its position in shares of Tamboran Resources by 66.7% during the 4th 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 during the last quarter. State of Wyoming purchased a new stake in shares of Tamboran Resources during the 2nd quarter valued at $99,000. Walleye Capital LLC bought a new stake in shares of Tamboran Resources during the 4th quarter worth $204,000. Finally, XY Capital Ltd bought a new stake in shares of Tamboran Resources during the 4th quarter worth $253,000.

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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