Susquehanna International Group LLP Acquires New Stake in Tamboran Resources Corporation $TBN

Susquehanna International Group LLP bought a new position in Tamboran Resources Corporation (NYSE:TBN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 24,685 shares of the company’s stock, valued at approximately $803,000.

A number of other large investors have also recently added to or reduced their stakes in TBN. Quantbot Technologies LP acquired a new stake in shares of Tamboran Resources in the 2nd quarter valued at about $39,000. Deutsche Bank AG bought a new position in shares of Tamboran Resources during the second quarter worth about $42,000. Avalon Trust Co bought a new position in shares of Tamboran Resources during the second quarter worth about $44,000. Bank of America Corp DE raised its position in 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 buying an additional 600 shares during the last quarter. Finally, State of Wyoming bought a new stake in Tamboran Resources in the 2nd quarter valued at approximately $99,000.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TBN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th. Roth Capital initiated coverage on shares of Tamboran Resources in a research report on Thursday, May 21st. They issued a “buy” rating and a $47.00 price objective on the stock. Finally, Zacks Research cut shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $58.50.

Tamboran Resources Stock Up 1.7%

TBN stock opened at $37.78 on Tuesday. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -20.20 and a beta of -2.08. Tamboran Resources Corporation has a twelve month low of $19.55 and a twelve month high of $52.21. The business has a 50 day moving average price of $33.91 and a two-hundred day moving average price of $34.36. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10.

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.