Tamboran Resources (NYSE:TBN) Price Target Raised to $38.00

Tamboran Resources (NYSE:TBN) had its target price increased by Royal Bank Of Canada from $30.00 to $38.00 in a report released on Friday morning, Marketbeat reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.75.

Tamboran Resources Trading Up 2.2%

Shares of Tamboran Resources stock opened at $26.53 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.55 and a current ratio of 1.55. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $34.50. The stock has a 50 day moving average price of $23.53 and a two-hundred day moving average price of $21.77. The stock has a market capitalization of $472.76 million, a PE ratio of -10.53 and a beta of 0.32.

Institutional Trading of Tamboran Resources

A number of hedge funds have recently bought and sold shares of TBN. Financial Management Professionals Inc. bought a new stake in shares of Tamboran Resources in the third quarter valued at $27,000. Bank of America Corp DE raised its stake in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after buying an additional 600 shares during the period. State of Wyoming purchased a new position in shares of Tamboran Resources in the second quarter valued at $99,000. Whitebox Advisors LLC purchased a new position in shares of Tamboran Resources in the second quarter valued at $1,194,000. Finally, Ingalls & Snyder LLC grew its position in shares of Tamboran Resources by 36.2% in the second quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company’s stock valued at $2,459,000 after purchasing an additional 30,650 shares in the last quarter.

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.