Tamboran Resources (NYSE:TBN) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• Tamboran Resources' stock has been reaffirmed with a "Sell (D)" rating by Weiss Ratings, indicating a negative outlook from analysts.
• Royal Bank of Canada has lowered its price target for the stock from $31.00 to $30.00, while the average target price remains at $34.75.
• Insider Bryan Sheffield increased his stake in Tamboran Resources by 22.02%, acquiring nearly 564,000 shares valued at approximately $10 million.

Tamboran Resources (NYSE:TBN - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

Separately, Royal Bank Of Canada dropped their price objective on shares of Tamboran Resources from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $34.75.

Tamboran Resources Trading Down 5.1%

Shares of TBN stock traded down $1.45 during mid-day trading on Tuesday, reaching $26.92. The stock had a trading volume of 16,916 shares, compared to its average volume of 32,475. The stock's 50-day moving average price is $22.64 and its two-hundred day moving average price is $21.62. The firm has a market capitalization of $479.63 million, a PE ratio of -10.68 and a beta of 0.32. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.02. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $34.50.

Insider Activity

In other news, major shareholder Bryan Sheffield acquired 563,697 shares of Tamboran Resources stock in a transaction dated Tuesday, July 22nd. The stock was purchased at an average cost of $17.74 per share, with a total value of $9,999,984.78. Following the completion of the purchase, the insider directly owned 3,123,601 shares in the company, valued at approximately $55,412,681.74. This trade represents a 22.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tamboran Resources

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its position 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 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 in the second quarter valued at $99,000. Whitebox Advisors LLC purchased a new stake in shares of Tamboran Resources in the second quarter valued at $1,194,000. Ingalls & Snyder LLC increased its stake in Tamboran Resources by 36.2% in the 2nd quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company's stock worth $2,459,000 after buying an additional 30,650 shares during the period. Finally, Alberta Investment Management Corp increased its stake in Tamboran Resources by 116.8% in the 2nd quarter. Alberta Investment Management Corp now owns 758,680 shares of the company's stock worth $16,175,000 after buying an additional 408,680 shares during the period.

Tamboran Resources Company 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.

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