Tamboran Resources’ (TBN) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Tamboran Resources (NYSE:TBN) in a report released on Monday,Benzinga reports. Piper Sandler currently has a $41.00 target price on the stock.

Separately, Royal Bank of Canada reissued a “sector perform” rating and set a $31.00 price objective on shares of Tamboran Resources in a report on Tuesday, November 19th.

Tamboran Resources Stock Performance

Tamboran Resources stock opened at $18.17 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. The firm’s 50 day simple moving average is $18.05. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $25.99.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Yaupon Capital Management LP grew its stake 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 in the last quarter. Ingalls & Snyder LLC acquired a new stake in Tamboran Resources in the 3rd quarter valued at approximately $1,287,000. HITE Hedge Asset Management LLC raised its stake in Tamboran Resources by 63.1% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock valued at $9,945,000 after purchasing an additional 189,417 shares during the last quarter. Atom Investors LP bought a new stake in shares of Tamboran Resources in the 3rd quarter worth approximately $351,000. Finally, Baupost Group LLC MA bought a new stake in Tamboran Resources in the third quarter valued at about $11,599,000.

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.