Edge Capital Group LLC Invests $4.69 Million in Tamboran Resources Corp (NYSE:TBN)

Edge Capital Group LLC purchased a new stake in Tamboran Resources Corp (NYSE:TBN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 208,333 shares of the company’s stock, valued at approximately $4,687,000.

Insider Activity

In other Tamboran Resources news, major shareholder Bryan Sheffield bought 12,424 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was acquired at an average cost of $20.12 per share, with a total value of $249,970.88. Following the purchase, the insider now owns 2,247,404 shares in the company, valued at $45,217,768.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Royal Bank of Canada began coverage on Tamboran Resources in a report on Monday, July 22nd. They set a “sector perform” rating and a $31.00 price objective on the stock. Citigroup started coverage on shares of Tamboran Resources in a research note on Monday, July 22nd. They issued a “buy” rating and a $32.00 target price for the company. Johnson Rice assumed coverage on shares of Tamboran Resources in a report on Tuesday, July 23rd. They set a “buy” rating and a $47.00 price objective on the stock. Finally, Piper Sandler began coverage on Tamboran Resources in a research note on Monday, July 22nd. They issued an “overweight” rating and a $41.00 target price for the company.

Tamboran Resources Price Performance

Tamboran Resources stock opened at $20.25 on Friday. The stock’s 50-day moving average is $21.63. Tamboran Resources Corp has a 1 year low of $17.92 and a 1 year high of $25.99.

Tamboran Resources Profile

We are an early stage, growth-driven independent natural gas exploration and production company focused on an integrated approach to the commercial development of the natural gas resources in the Beetaloo located within the Northern Territory of Australia. We and our working interest partners have exploration permits (“EPs”) to approximately 4.7 million contiguous gross acres (approximately 1.9 million net acres to Tamboran) and are currently the largest acreage holder in the Beetaloo.