Tamboran Resources Corp’s (NYSE:TBN) Quiet Period Will Expire on August 6th

Tamboran Resources’ (NYSE:TBN) quiet period will expire on Tuesday, August 6th. Tamboran Resources had issued 3,125,000 shares in its public offering on June 27th. The total size of the offering was $75,000,000 based on an initial share price of $24.00. During the company’s quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TBN shares. Royal Bank of Canada began coverage on shares of Tamboran Resources in a research report on Monday, July 22nd. They issued a “sector perform” rating and a $31.00 price objective on the stock. Johnson Rice began coverage on Tamboran Resources in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $47.00 price target for the company. Piper Sandler initiated coverage on Tamboran Resources in a report on Monday, July 22nd. They issued an “overweight” rating and a $41.00 price objective for the company. Finally, Citigroup initiated coverage on Tamboran Resources in a report on Monday, July 22nd. They set a “buy” rating and a $32.00 price target for the company.

Tamboran Resources Trading Up 0.1 %

NYSE TBN opened at $23.05 on Friday. Tamboran Resources has a fifty-two week low of $21.74 and a fifty-two week high of $25.99.

Tamboran Resources Company Profile

We are an early stage, growth-driven independent natural gas exploration and production company focused on an integrated approach to the commercial development of the natural gas resources in the Beetaloo located within the Northern Territory of Australia. We and our working interest partners have exploration permits (“EPs”) to approximately 4.7 million contiguous gross acres (approximately 1.9 million net acres to Tamboran) and are currently the largest acreage holder in the Beetaloo.