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

Tamboran Resources (NYSE:TBN)‘s stock had its “overweight” rating restated by equities research analysts at Piper Sandler in a report issued on Monday,Benzinga reports. They currently have a $41.00 target price on the stock. Piper Sandler’s target price indicates a potential upside of 141.18% from the company’s previous close.

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 report on Tuesday, November 19th.

Tamboran Resources Price Performance

Shares of NYSE TBN opened at $17.00 on Monday. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $25.99. The firm has a 50-day moving average price of $18.08. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TBN. Atom Investors LP acquired a new stake in Tamboran Resources during the third quarter worth approximately $351,000. Ingalls & Snyder LLC acquired a new position in Tamboran Resources in the third quarter valued at $1,287,000. The Manufacturers Life Insurance Company purchased a new position in Tamboran Resources during the third quarter worth about $1,930,000. Yaupon Capital Management LP boosted its stake in Tamboran Resources by 7.2% in the 3rd 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 during the last quarter. Finally, Edge Capital Group LLC acquired a new position in shares of Tamboran Resources during the 2nd quarter valued at about $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.