Baupost Group LLC MA Acquires Shares of 570,833 Tamboran Resources Corp (NYSE:TBN)

Baupost Group LLC MA acquired a new stake in shares of Tamboran Resources Corp (NYSE:TBN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 570,833 shares of the company’s stock, valued at approximately $11,599,000. Tamboran Resources makes up about 0.3% of Baupost Group LLC MA’s holdings, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in Tamboran Resources during the third quarter valued at approximately $1,930,000. Edge Capital Group LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter worth approximately $4,687,000. Encompass Capital Advisors LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter worth approximately $4,687,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter worth approximately $6,750,000.

Insider Buying and Selling

In related news, major shareholder Bryan Sheffield acquired 12,424 shares of Tamboran Resources stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average price of $20.12 per share, with a total value of $249,970.88. Following the completion of the acquisition, the insider now directly owns 2,247,404 shares of the company’s stock, valued at $45,217,768.48. This trade represents a 0.56 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $31.00 price target on shares of Tamboran Resources in a research report on Tuesday, November 19th.

Tamboran Resources Stock Performance

Shares of NYSE:TBN opened at $17.83 on Wednesday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $19.10. Tamboran Resources Corp has a 52 week low of $16.47 and a 52 week high of $25.99.

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.