The Manufacturers Life Insurance Company Buys Shares of 95,000 Tamboran Resources Corp (NYSE:TBN)

The Manufacturers Life Insurance Company acquired a new stake in Tamboran Resources Corp (NYSE:TBN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 95,000 shares of the company's stock, valued at approximately $1,930,000. The Manufacturers Life Insurance Company owned 0.67% of Tamboran Resources as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Encompass Capital Advisors LLC bought a new stake in Tamboran Resources in the second quarter valued at approximately $4,687,000. HITE Hedge Asset Management LLC bought a new position in shares of Tamboran Resources during the second quarter worth approximately $6,750,000. Finally, Edge Capital Group LLC bought a new position in shares of Tamboran Resources during the second quarter worth approximately $4,687,000.

Tamboran Resources Price Performance

Shares of NYSE TBN traded up $0.24 during trading hours on Tuesday, reaching $16.67. 13,039 shares of the stock were exchanged, compared to its average volume of 41,997. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources Corp has a 52 week low of $15.89 and a 52 week high of $25.99. The company's fifty day simple moving average is $18.58.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reiterated a "sector perform" rating and set a $31.00 target price on shares of Tamboran Resources in a research note 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.