HITE Hedge Asset Management LLC Has $9.95 Million Stock Holdings in Tamboran Resources Corp (NYSE:TBN)

HITE Hedge Asset Management LLC raised its position in Tamboran Resources Corp (NYSE:TBN - Free Report) by 63.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,417 shares of the company's stock after buying an additional 189,417 shares during the period. HITE Hedge Asset Management LLC owned 3.44% of Tamboran Resources worth $9,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atom Investors LP bought a new position in Tamboran Resources in the 3rd quarter valued at $351,000. The Manufacturers Life Insurance Company acquired a new position in Tamboran Resources during the 3rd quarter worth about $1,930,000. Encompass Capital Advisors LLC acquired a new position in Tamboran Resources during the 2nd quarter worth about $4,687,000. Edge Capital Group LLC acquired a new stake in Tamboran Resources in the 2nd quarter valued at about $4,687,000. Finally, Baupost Group LLC MA bought a new stake in shares of Tamboran Resources during the third quarter valued at approximately $11,599,000.

Tamboran Resources Stock Up 0.7 %

Shares of NYSE:TBN traded up $0.12 during trading on Tuesday, hitting $17.38. 4,941 shares of the company's stock were exchanged, compared to its average volume of 43,190. 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 company's 50-day moving average is $18.91. Tamboran Resources Corp has a 1-year low of $16.47 and a 1-year high of $25.99.

Wall Street Analysts Forecast Growth

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 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.