Tamboran Resources' (TBN) Sector Perform Rating Reaffirmed at Royal Bank of Canada

Tamboran Resources (NYSE:TBN - Get Free Report)'s stock had its "sector perform" rating reiterated by equities research analysts at Royal Bank of Canada in a report released on Thursday,Benzinga reports. They presently have a $31.00 target price on the stock. Royal Bank of Canada's price target points to a potential upside of 40.27% from the stock's current price.

Separately, Piper Sandler reaffirmed an "overweight" rating and issued a $41.00 target price on shares of Tamboran Resources in a report on Monday, December 23rd.

Tamboran Resources Trading Down 1.2 %

Shares of Tamboran Resources stock traded down $0.27 during trading hours on Thursday, reaching $22.10. 30,140 shares of the company's stock were exchanged, compared to its average volume of 28,288. The business's 50 day moving average is $18.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $25.99.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atom Investors LP bought a new position in shares of Tamboran Resources during the third quarter worth approximately $351,000. Ingalls & Snyder LLC acquired a new stake in shares of Tamboran Resources during the third quarter worth $1,287,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Tamboran Resources during the third quarter worth $1,930,000. Yaupon Capital Management LP boosted its position in shares of Tamboran Resources by 7.2% in the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company's stock valued at $2,832,000 after acquiring an additional 9,355 shares during the period. Finally, Edge Capital Group LLC acquired a new position in shares of Tamboran Resources in the second quarter valued at about $4,687,000.

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.