Insider Buying: Tamboran Resources Independent Non-Executive Director Bought US$90k Of Shares

Even if it's not a huge purchase, we think it was good to see that David Siegel, the Independent Non-Executive Director of Tamboran Resources Corporation (ASX:TBN) recently shelled out AU$90k to buy stock, at AU$0.18 per share. Nevertheless, it only increased their shareholding by a minuscule percentage, and it wasn't a massive purchase by absolute value, either.

See our latest analysis for Tamboran Resources

Tamboran Resources Insider Transactions Over The Last Year

In the last twelve months, the biggest single purchase by an insider was when insider Bryan Sheffield bought AU$15m worth of shares at a price of AU$0.18 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being AU$0.15). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

While Tamboran Resources insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

Tamboran Resources is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Does Tamboran Resources Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Tamboran Resources insiders own 23% of the company, worth about AU$70m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About Tamboran Resources Insiders?

It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. When combined with notable insider ownership, these factors suggest Tamboran Resources insiders are well aligned, and that they may think the share price is too low. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Tamboran Resources. Case in point: We've spotted 6 warning signs for Tamboran Resources you should be aware of, and 3 of these are potentially serious.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.