Tamboran Resources director buys $300,000 in company stock By Investing.com

In a recent transaction, Tamboran Resources Corp (NYSE:TBN) director Ryan Dalton has increased his stake in the company with the purchase of shares valued at $300,000. On June 28, Dalton acquired 12,500 shares of Tamboran Resources’ common stock at a price of $24.00 per share.

This move by Dalton, a member of the company’s board of directors, demonstrates a significant investment in the crude petroleum and company. His purchase reflects confidence in Tamboran Resources’ strategic direction and future prospects. Following the transaction, Dalton now owns a total of 12,500 shares directly.

Investors often monitor insider buying as it may signal executives’ bullish views on their company’s future performance. The purchase by Dalton aligns with this perspective and may be of interest to current and potential shareholders.

Tamboran Resources Corp, with its headquarters in Barangaroo, NSW, Australia, operates within the energy sector and specializes in the exploration and production of natural resources. The company’s business activities are crucial in an industry that is continually evolving with market demands and technological advancements.

The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, dated July 2. Transactions such as these are closely watched by the investment community as they provide insights into executives’ expectations and commitment to their companies.

As of the latest reports, Tamboran Resources Corp’s stock is publicly traded on the New York Stock Exchange, where investors can follow its performance under the ticker symbol TBN.

InvestingPro Insights

Following the news of Ryan Dalton’s recent share purchase in Tamboran Resources Corp (NYSE:TBN), market performance metrics from InvestingPro shed light on the company’s recent stock behavior. With a consistent 8.37% price total return across various timeframes, including one-week, one-month, three-month, six-month, year-to-date, and one-year as of a recent date in 2024, Tamboran Resources has demonstrated a steady upward trajectory in its share price. Additionally, the previous close price of $24.25 suggests a slight premium over the price Dalton paid for his shares, reinforcing the notion of his confidence in the company’s value.

In terms of liquidity, Tamboran Resources Corp shows an average daily trading volume of 0.25 million shares over the past three months. This level of activity indicates a decent interest from the investment community in the company’s stock. For investors looking to follow in Dalton’s footsteps or to further analyze Tamboran’s performance, these metrics provide a useful snapshot of recent trading dynamics.

An InvestingPro Tip points out that insider transactions like Dalton’s can often precedate broader market recognition of a company’s potential, making such moves a focal point for savvy investors. For those interested, InvestingPro offers additional insights and tips—there are currently 5 more tips available for Tamboran Resources on the platform, which could help investors make better-informed decisions.

To gain access to these exclusive insights, consider subscribing to InvestingPro. Remember to use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing you with a wealth of data and analysis to guide your investment strategy.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.