Tamboran Resources Corp’s Lock-Up Period Will End Tomorrow (NYSE:TBN)

Tamboran Resources’ (NYSE:TBN) lock-up period is set to end 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 the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

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

Tamboran Resources Stock Up 1.6 %

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

Institutional Investors Weigh In On Tamboran Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Yaupon Capital Management LP boosted its holdings in 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 acquiring an additional 9,355 shares in the last quarter. Ingalls & Snyder LLC purchased a new position in shares of Tamboran Resources in the 3rd quarter worth about $1,287,000. HITE Hedge Asset Management LLC boosted its stake 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 in the last quarter. Atom Investors LP purchased a new stake in Tamboran Resources during the 3rd quarter valued at about $351,000. Finally, Baupost Group LLC MA purchased a new stake in Tamboran Resources during the 3rd quarter valued at 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.