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

Tamboran Resources (NYSE:TBN)‘s stock had its “sector perform” rating reissued by equities research analysts at Royal Bank of Canada in a report issued on Thursday,Benzinga reports. They presently have a $31.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 40.27% from the stock’s current price.

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

Tamboran Resources Price Performance

Shares of TBN traded down $0.27 during mid-day trading on Thursday, hitting $22.10. 30,140 shares of the company’s stock were exchanged, compared to its average volume of 28,288. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $25.99. The stock has a 50-day moving average of $18.40. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03.

Institutional Trading of Tamboran Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Atom Investors LP acquired a new position in Tamboran Resources in the 3rd quarter valued at 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 acquired a new stake in shares of Tamboran Resources during the 3rd quarter worth about $1,930,000. Yaupon Capital Management LP grew its holdings in Tamboran Resources by 7.2% in the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after purchasing an additional 9,355 shares during the period. Finally, Edge Capital Group LLC acquired a new position in Tamboran Resources during the second quarter valued at approximately $4,687,000.

Tamboran Resources Company Profile

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.