Tamboran Resources Corp’s (NYSE:TBN) Lock-Up Period Set To Expire Tomorrow

Tamboran Resources’ (NYSE:TBN) lock-up period will expire 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 expiration of Tamboran Resources’ lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

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

Tamboran Resources Stock Up 1.6 %

Shares of TBN opened at $17.25 on Monday. Tamboran Resources has a one year low of $15.75 and a one year high of $25.99. The business has a fifty day moving average price of $18.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59.

Institutional Investors Weigh In On Tamboran Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Yaupon Capital Management LP grew its position in Tamboran Resources by 7.2% during the third 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 period. Atom Investors LP purchased a new position in shares of Tamboran Resources during the 3rd quarter worth $351,000. Ingalls & Snyder LLC bought a new stake in shares of Tamboran Resources during the 3rd quarter valued at $1,287,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tamboran Resources in the 3rd quarter worth $1,930,000. Finally, HITE Hedge Asset Management LLC raised its holdings in Tamboran Resources by 63.1% in the 3rd 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 period.

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.