Tamboran Resources Corp (NYSE:TBN) Shares Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lifted its stake in Tamboran Resources Corp (NYSE:TBN) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511,421 shares of the company’s stock after buying an additional 22,004 shares during the period. HITE Hedge Asset Management LLC’s holdings in Tamboran Resources were worth $10,735,000 as of its most recent SEC filing.

Separately, Ingalls & Snyder LLC boosted its holdings in Tamboran Resources by 13.0% in the 4th quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company’s stock worth $1,502,000 after acquiring an additional 8,205 shares during the period.

Analysts Set New Price Targets

TBN has been the topic of a number of recent research reports. Alliance Global Partners started coverage on shares of Tamboran Resources in a research report on Tuesday, January 21st. They set a “buy” rating and a $32.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Tamboran Resources in a report on Thursday, January 9th. Finally, Piper Sandler restated an “overweight” rating and set a $41.00 target price on shares of Tamboran Resources in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.60.

Tamboran Resources Trading Up 0.7 %

Shares of NYSE:TBN opened at $22.75 on Friday. The stock’s 50 day moving average price is $23.79 and its 200 day moving average price is $21.14. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77. Tamboran Resources Corp has a 12 month low of $15.75 and a 12 month high of $34.50.

Tamboran Resources (NYSE:TBN) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.01. As a group, equities research analysts anticipate that Tamboran Resources Corp will post -1.86 EPS for the current fiscal year.

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.