Tamboran Resources’ (TBN) “Overweight” Rating Reiterated at Piper Sandler

Tamboran Resources (NYSE:TBN)‘s stock had its “overweight” rating restated by equities researchers at Piper Sandler in a report released on Monday,Benzinga reports. They presently have a $41.00 target price on the stock. Piper Sandler’s target price suggests a potential upside of 141.18% from the company’s current price.

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

Tamboran Resources Stock Performance

NYSE:TBN opened at $17.00 on Monday. The company’s fifty day simple moving average is $18.08. 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 has a twelve month low of $15.75 and a twelve month high of $25.99.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Edge Capital Group LLC bought a new position in Tamboran Resources during the second quarter worth $4,687,000. HITE Hedge Asset Management LLC acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at about $6,750,000. Encompass Capital Advisors LLC bought a new stake in shares of Tamboran Resources during the 2nd quarter valued at about $4,687,000. The Manufacturers Life Insurance Company acquired a new stake in Tamboran Resources during the third quarter worth about $1,930,000. Finally, Baupost Group LLC MA bought a new position in Tamboran Resources in the third quarter worth about $11,599,000.

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.