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

Tamboran Resources (NYSE:TBN)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a note issued to investors on Monday,Benzinga reports. They currently have a $41.00 price target on the stock. Piper Sandler’s price target indicates a potential upside of 125.65% from the stock’s current price.

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

Tamboran Resources Stock Performance

Shares of TBN stock opened at $18.17 on Monday. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $18.06. Tamboran Resources has a 12-month low of $15.75 and a 12-month high of $25.99.

Institutional Trading of Tamboran Resources

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Atom Investors LP bought a new stake in Tamboran Resources in the third quarter worth $351,000. Ingalls & Snyder LLC bought a new stake in Tamboran Resources during the 3rd quarter valued at about $1,287,000. The Manufacturers Life Insurance Company purchased a new position in Tamboran Resources in the third quarter worth about $1,930,000. Yaupon Capital Management LP lifted its stake in shares of Tamboran Resources by 7.2% in the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock worth $2,832,000 after buying an additional 9,355 shares in the last quarter. Finally, Edge Capital Group LLC purchased a new stake in shares of Tamboran Resources during the second quarter valued at approximately $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.