Tamboran Resources (NYSE:TBN) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of Tamboran Resources (NYSE:TBN) in a research report report published on Thursday morning,Benzinga reports. They currently have a $31.00 target price on the stock.

Separately, Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price target on shares of Tamboran Resources in a research report on Monday, December 23rd.

Tamboran Resources Stock Down 1.2 %

NYSE:TBN opened at $22.10 on Thursday. Tamboran Resources has a 12 month low of $15.75 and a 12 month high of $25.99. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. The business has a 50 day moving average of $18.47.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Yaupon Capital Management LP boosted its holdings in shares of Tamboran Resources by 7.2% in the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock worth $2,832,000 after acquiring an additional 9,355 shares during the period. Atom Investors LP bought a new position in Tamboran Resources in the 3rd quarter worth about $351,000. Ingalls & Snyder LLC purchased a new position in Tamboran Resources during the 3rd quarter valued at about $1,287,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tamboran Resources during the third quarter valued at about $1,930,000. Finally, HITE Hedge Asset Management LLC increased its position in shares of Tamboran Resources by 63.1% during the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock valued at $9,945,000 after buying an additional 189,417 shares during the period.

About Tamboran Resources

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.