In a recent transaction, Bryan Sheffield, through his affiliated entities Sheffield Holdings, LP and Spraberry Interests, LLC, has made a significant purchase of Tamboran Resources Corp (ASX:TBN) shares. The acquisition, totaling $12 million, was executed at a price of $24.00 per share.
The transaction, dated June 28, 2024, involved the purchase of 500,000 shares of Tamboran Resources, a company that operates within the crude petroleum and natural gas industry. Following the transaction, the total number of shares owned by Sheffield Holdings, LP in Tamboran Resources increased to 2,234,980.
It is important to note that Spraberry Interests, LLC serves as the general partner of Sheffield Holdings, LP, and Bryan Sheffield is the manager of Spraberry Interests, LLC. Consequently, both Mr. Sheffield and Spraberry Interests, LLC may be considered to share beneficial ownership of the shares held by Sheffield Holdings, LP.
This transaction indicates a substantial investment by Sheffield's firms in Tamboran Resources, reflecting a strong interest in the energy sector. Investors often keep a close watch on such purchases by significant stakeholders, as they can sometimes signal confidence in the company's future prospects.
The signatures on the filing were provided by Eric Dyer, Attorney-in-fact, on behalf of Bryan Sheffield and the associated entities. This formal documentation confirms the completion of the transaction and the updated ownership status within Tamboran Resources.
Tamboran Resources Corp, with its headquarters located in Barangaroo, operates primarily in the field of crude petroleum and natural gas, sectors that are central to global energy markets. The company's stock trades on the Australian Securities Exchange under the ticker symbol TBN.
InvestingPro Insights
In the wake of Bryan Sheffield's significant investment in Tamboran Resources Corp, current and potential investors may find the following metrics and tips from InvestingPro particularly insightful. As of the most recent data, Tamboran Resources has demonstrated a consistent price total return across multiple time frames, with an 8.37% return over the past week, month, three months, six months, year-to-date, and over the last year. This uniform performance metric suggests a steady interest in the company, aligning with Sheffield's recent purchase.
The company's stock closed at $24.25, slightly above the purchase price of Sheffield's transaction, indicating a positive market reaction following the acquisition. Additionally, the average daily trading volume over the past three months stands at 0.25 million shares, reflecting a robust trading activity that could be attractive to investors looking for liquid investments in the energy sector.
For those looking to delve deeper into the financial health and future prospects of Tamboran Resources, InvestingPro offers a range of additional tips. Currently, there are 5 more InvestingPro Tips available, which can provide a more comprehensive understanding of the company's performance and potential. Investors interested in these insights can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking valuable information to inform their investment decisions.
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