Eric Dyer, CFO of Tamboran Resources Corporation (TBN), recently bought 2,500 shares. The buy increased his stake by 4%, and came to a total cost of $60,000.
He was outdone by the company COO, who bought 15,000 shares, increasing his position by 17%, paying $360,000 for the stake. A company director also recently bought 8,300 shares, for just over $199,000. Insiders have been buyers since the company reorganized and listed on the Nasdaq.
Overall, company insiders own 0.2% of shares.
Since going public, shares of the oil and gas exploration giant are up 8.5%. Energy prices have been trending higher in recent weeks.
On a technical basis, commodities in general have started to show signs of strengthening after a recent selloff.
Tamboran’s focus on natural gas properties in Australia are well positioned for the growing Australian market, and for the potential to export to energy-hungry Asia.
Action to take: While there’s a limited operating history on the U.S. exchange, investors could fare well in the years ahead, as natural gas demand remains strong. Currently, Tamboran does not pay a dividend. That could change over time, given its strong earnings.
Options traders will need to look elsewhere in the energy space for now, as Tamboran’s limited operating history means that options don’t trade against shares yet.
Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.