Tamboran Resources (NYSE:TBN) Given “Sector Perform” Rating at Royal Bank of Canada

Tamboran Resources (NYSE:TBN)‘s stock had its “sector perform” rating reissued by investment analysts at Royal Bank of Canada in a research report issued on Thursday,Benzinga reports. They presently have a $31.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 40.27% from the stock’s current price.

Separately, Piper Sandler reissued an “overweight” rating and set a $41.00 price objective on shares of Tamboran Resources in a report on Monday, December 23rd.

Tamboran Resources Stock Performance

Shares of NYSE TBN traded down $0.27 during mid-day trading on Thursday, reaching $22.10. 30,140 shares of the company traded hands, compared to its average volume of 28,288. The company’s fifty day moving average is $18.40. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $25.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Edge Capital Group LLC acquired a new position in Tamboran Resources during the second quarter worth $4,687,000. HITE Hedge Asset Management LLC bought a new position in shares of Tamboran Resources in the second quarter valued at approximately $6,750,000. Encompass Capital Advisors LLC bought a new stake in Tamboran Resources during the second quarter worth $4,687,000. The Manufacturers Life Insurance Company purchased a new position in Tamboran Resources during the 3rd quarter worth $1,930,000. Finally, Baupost Group LLC MA bought a new stake in shares of Tamboran Resources in the 3rd quarter worth $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.