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

Baupost Group LLC MA acquired a new stake in Tamboran Resources Corp (NYSE:TBN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 570,833 shares of the company’s stock, valued at approximately $11,599,000. Tamboran Resources makes up approximately 0.3% of Baupost Group LLC MA’s investment portfolio, making the stock its 18th biggest holding. Baupost Group LLC MA owned 4.01% of Tamboran Resources as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company purchased a new stake in Tamboran Resources in the 3rd quarter valued at approximately $1,930,000. Edge Capital Group LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter valued at approximately $4,687,000. Encompass Capital Advisors LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter valued at approximately $4,687,000. Finally, HITE Hedge Asset Management LLC acquired a new stake in shares of Tamboran Resources during the 2nd quarter valued at approximately $6,750,000.

Tamboran Resources Stock Performance

Shares of Tamboran Resources stock opened at $17.83 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. Tamboran Resources Corp has a 1 year low of $16.47 and a 1 year high of $25.99. The stock’s 50 day moving average is $19.10.

Analyst Ratings Changes

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.

Insider Buying and Selling

In other Tamboran Resources news, major shareholder Bryan Sheffield purchased 12,424 shares of the business’s stock in a transaction on Friday, August 30th. The stock was bought at an average cost of $20.12 per share, for a total transaction of $249,970.88. Following the acquisition, the insider now owns 2,247,404 shares of the company’s stock, valued at approximately $45,217,768.48. The trade was a 0.56 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.10% of the company’s stock.

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.