Tamboran Resources (NYSE:TBN) Earns Sector Perform Rating from Royal Bank of Canada

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

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

Tamboran Resources Stock Down 1.2 %

NYSE TBN opened at $22.10 on Thursday. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $25.99. The stock’s fifty day moving average is $18.47. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Tamboran Resources

Large investors have recently added to or reduced their stakes in the business. Edge Capital Group LLC bought a new position in shares of Tamboran Resources during the second quarter valued at about $4,687,000. HITE Hedge Asset Management LLC purchased a new stake in Tamboran Resources during the 2nd quarter valued at about $6,750,000. Encompass Capital Advisors LLC bought a new position in Tamboran Resources during the 2nd quarter worth approximately $4,687,000. The Manufacturers Life Insurance Company purchased a new position in Tamboran Resources in the 3rd quarter worth approximately $1,930,000. Finally, Baupost Group LLC MA bought a new stake in Tamboran Resources in the third quarter valued at approximately $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.