Tamboran Resources Corp's (NYSE:TBN) Lock-Up Period To End on December 24th

Tamboran Resources' (NYSE:TBN - Get Free Report) lock-up period is set to end on Tuesday, December 24th. Tamboran Resources had issued 3,125,000 shares in its initial public offering on June 27th. The total size of the offering was $75,000,000 based on an initial share price of $24.00. After the end of Tamboran Resources' lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

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

Tamboran Resources Stock Up 0.8 %

Shares of Tamboran Resources stock traded up $0.14 during trading hours on Tuesday, reaching $16.82. The company's stock had a trading volume of 17,108 shares, compared to its average volume of 40,653. The business has a fifty day simple moving average of $18.23. Tamboran Resources has a one year low of $15.75 and a one 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.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Yaupon Capital Management LP raised its position in Tamboran Resources by 7.2% in 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 last quarter. Atom Investors LP bought a new stake in shares of Tamboran Resources in the 3rd quarter worth $351,000. Ingalls & Snyder LLC purchased a new stake in shares of Tamboran Resources in the third quarter valued at about $1,287,000. The Manufacturers Life Insurance Company bought a new position in shares of Tamboran Resources during the third quarter valued at about $1,930,000. Finally, HITE Hedge Asset Management LLC boosted its holdings in Tamboran Resources by 63.1% during the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company's stock worth $9,945,000 after purchasing an additional 189,417 shares during the last quarter.

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.