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

Piper Sandler reaffirmed their overweight rating on shares of Tamboran Resources (NYSE:TBN) in a research report released on Monday,Benzinga reports. The brokerage currently has a $41.00 price target on the stock.

Separately, Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Tamboran Resources in a research note on Tuesday, November 19th.

Tamboran Resources Stock Performance

TBN opened at $18.17 on Monday. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $25.99. The stock’s 50-day moving average is $18.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59.

Hedge Funds Weigh In On Tamboran Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atom Investors LP purchased a new stake in shares of Tamboran Resources in the 3rd quarter valued at $351,000. Ingalls & Snyder LLC purchased a new stake in Tamboran Resources in the third quarter worth about $1,287,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tamboran Resources during the third quarter valued at approximately $1,930,000. Yaupon Capital Management LP lifted its position in Tamboran Resources by 7.2% during the 3rd 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 purchased a new position in Tamboran Resources during the second 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.