Piper Sandler Reaffirms Overweight Rating for Tamboran Resources (NYSE:TBN)

Piper Sandler restated their overweight rating on shares of Tamboran Resources (NYSE:TBN) in a research report sent to investors on Monday,Benzinga reports. They currently have a $41.00 price objective on the stock.

Separately, Royal Bank of Canada reaffirmed 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 Up 5.3 %

Shares of TBN opened at $18.17 on Monday. Tamboran Resources has a 1-year low of $15.75 and a 1-year 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 company has a 50 day moving average of $18.08.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Atom Investors LP bought a new stake in Tamboran Resources in the third quarter valued at approximately $351,000. Ingalls & Snyder LLC purchased a new position in shares of Tamboran Resources in the third quarter worth $1,287,000. The Manufacturers Life Insurance Company bought a new stake in Tamboran Resources during the 3rd quarter valued at $1,930,000. Yaupon Capital Management LP boosted its position in Tamboran Resources by 7.2% during the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after buying an additional 9,355 shares during the period. Finally, Edge Capital Group LLC bought a new stake in Tamboran Resources in the 2nd quarter worth $4,687,000.

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.