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

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

A number of other large investors have also recently added to or reduced their stakes in TBN. Atom Investors LP bought a new stake in shares of Tamboran Resources in the third quarter valued at about $351,000. The Manufacturers Life Insurance Company bought a new position in Tamboran Resources in the third quarter valued at $1,930,000. Encompass Capital Advisors LLC acquired a new stake in shares of Tamboran Resources in the second quarter valued at about $4,687,000. Edge Capital Group LLC acquired a new position in Tamboran Resources during the second quarter valued at approximately $4,687,000. Finally, Baupost Group LLC MA bought a new position in Tamboran Resources in the third quarter valued at approximately $11,599,000.

Tamboran Resources Stock Up 0.7 %

Tamboran Resources stock traded up $0.12 during trading hours on Tuesday, hitting $17.38. The company had a trading volume of 4,941 shares, compared to its average volume of 43,190. The business's 50-day moving average is $18.91. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources Corp has a one year low of $16.47 and a one year high of $25.99.

Analyst Ratings Changes

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

Tamboran Resources 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.