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

Tamboran Resources (NYSE:TBN - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Piper Sandler in a research note issued to investors on Monday,Benzinga reports. They currently have a $41.00 price target on the stock. Piper Sandler's price target suggests a potential upside of 125.65% from the stock's previous close.

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

Tamboran Resources Price Performance

Shares of Tamboran Resources stock traded up $0.92 during midday trading on Monday, hitting $18.17. 12,409 shares of the company were exchanged, compared to its average volume of 39,714. 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 has a 50 day simple moving average of $18.08. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $25.99.

Institutional Trading of Tamboran Resources

Institutional investors have recently bought and sold shares of the business. Atom Investors LP bought a new stake in Tamboran Resources in the third quarter valued at about $351,000. Ingalls & Snyder LLC bought a new position in Tamboran Resources during the 3rd quarter worth approximately $1,287,000. The Manufacturers Life Insurance Company acquired a new position in Tamboran Resources during the third quarter valued at approximately $1,930,000. Yaupon Capital Management LP boosted its position in shares of Tamboran Resources by 7.2% during the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company's stock worth $2,832,000 after purchasing an additional 9,355 shares in the last quarter. Finally, Edge Capital Group LLC bought a new stake in shares of Tamboran Resources in the 2nd quarter valued at $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.