Susquehanna International Group LLP Buys Shares of 24,685 Tamboran Resources Corporation $TBN

Susquehanna International Group LLP bought a new stake in Tamboran Resources Corporation (NYSE:TBN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,685 shares of the company’s stock, valued at approximately $803,000. Susquehanna International Group LLP owned about 0.09% of Tamboran Resources at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of America Corp DE grew its holdings in Tamboran Resources by 66.7% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after acquiring an additional 600 shares during the period. Quantbot Technologies LP bought a new position in shares of Tamboran Resources in the 2nd quarter worth $39,000. Deutsche Bank AG acquired a new stake in shares of Tamboran Resources during the second quarter worth $42,000. Avalon Trust Co bought a new stake in Tamboran Resources in the second quarter valued at about $44,000. Finally, State of Wyoming bought a new stake in Tamboran Resources in the second quarter valued at about $99,000.

Tamboran Resources Trading Up 1.7%

NYSE TBN opened at $37.78 on Tuesday. The firm has a market cap of $1.07 billion, a P/E ratio of -20.20 and a beta of -2.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s 50-day moving average is $33.91 and its 200-day moving average is $34.36. Tamboran Resources Corporation has a one year low of $19.55 and a one year high of $52.21.

Analyst Upgrades and Downgrades

TBN has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Zacks Research downgraded shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Finally, Roth Capital started coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Tamboran Resources presently has a consensus rating of “Hold” and a consensus target price of $58.50.

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.