Ingalls & Snyder LLC Buys 8,205 Shares of Tamboran Resources Corp (NYSE:TBN)

Ingalls & Snyder LLC boosted its position in shares of Tamboran Resources Corp (NYSE:TBN) by 13.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 71,540 shares of the company’s stock after purchasing an additional 8,205 shares during the quarter. Ingalls & Snyder LLC owned about 0.50% of Tamboran Resources worth $1,502,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Yaupon Capital Management LP raised its holdings in Tamboran Resources by 7.2% in the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock worth $2,832,000 after acquiring an additional 9,355 shares during the last quarter. Atom Investors LP purchased a new position in shares of Tamboran Resources in the 3rd quarter worth $351,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tamboran Resources during the 3rd quarter valued at about $1,930,000. HITE Hedge Asset Management LLC increased its holdings in Tamboran Resources by 63.1% during the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock valued at $9,945,000 after buying an additional 189,417 shares during the last quarter. Finally, Baupost Group LLC MA bought a new stake in Tamboran Resources during the third quarter valued at about $11,599,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TBN. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price target on shares of Tamboran Resources in a report on Monday, December 23rd. Alliance Global Partners initiated coverage on Tamboran Resources in a research note on Tuesday, January 21st. They issued a “buy” rating and a $32.00 price objective for the company. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price target on shares of Tamboran Resources in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Tamboran Resources presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

Tamboran Resources Trading Down 1.6 %

NYSE TBN opened at $24.40 on Friday. The business has a 50 day simple moving average of $20.89 and a two-hundred day simple moving average of $20.15. Tamboran Resources Corp has a 1-year low of $15.75 and a 1-year high of $34.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01. On average, sell-side analysts anticipate that Tamboran Resources Corp will post -1.51 earnings per share for the current fiscal year.

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.