Aventail Capital Group LP Grows Holdings in Tamboran Resources Corporation $TBN

Aventail Capital Group LP grew its stake in Tamboran Resources Corporation (NYSE:TBN) by 77.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 150,439 shares of the company’s stock after acquiring an additional 65,886 shares during the period. Aventail Capital Group LP owned about 0.66% of Tamboran Resources worth $4,096,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE raised its stake in shares of Tamboran Resources by 66.7% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after acquiring an additional 600 shares during the period. State of Wyoming purchased a new stake in shares of Tamboran Resources in the 2nd quarter valued at approximately $99,000. Walleye Capital LLC purchased a new stake in shares of Tamboran Resources in the 4th quarter valued at approximately $204,000. XY Capital Ltd purchased a new stake in shares of Tamboran Resources in the 4th quarter valued at approximately $253,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Tamboran Resources in the 4th quarter valued at approximately $493,000.

Insider Buying and Selling at Tamboran Resources

In related news, Director Scott D. Sheffield bought 6,990 shares of the stock in a transaction dated Wednesday, April 8th. The stock was acquired at an average price of $36.02 per share, for a total transaction of $251,779.80. Following the acquisition, the director owned 292,430 shares in the company, valued at approximately $10,533,328.60. This represents a 2.45% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Phillip Z. Pace bought 10,000 shares of the stock in a transaction dated Monday, April 13th. The stock was bought at an average price of $36.99 per share, with a total value of $369,900.00. Following the acquisition, the director owned 35,809 shares in the company, valued at approximately $1,324,574.91. This represents a 38.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 4.50% of the company’s stock.

Tamboran Resources Trading Down 1.2%

Shares of NYSE:TBN opened at $35.98 on Thursday. Tamboran Resources Corporation has a 52 week low of $17.29 and a 52 week high of $52.21. The company’s 50 day moving average is $35.70 and its two-hundred day moving average is $31.59. 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 company has a market cap of $1.02 billion, a PE ratio of -19.24 and a beta of -2.20.

Tamboran Resources (NYSE:TBN) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). Equities analysts predict that Tamboran Resources Corporation will post -1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TBN has been the topic of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Wells Fargo & Company upped their target price on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th. Royal Bank Of Canada raised shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $38.00 to $55.00 in a research note on Wednesday, April 29th. Roth Mkm started coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.50.

About Tamboran Resources

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.