Tamboran Resources Corp’s Lock-Up Period Set To End on December 24th (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 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 end of Tamboran Resources’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analysts Set New Price Targets

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

Tamboran Resources Trading Up 1.6 %

Tamboran Resources stock opened at $17.25 on Friday. The firm has a fifty day simple moving average 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. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $25.99.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Atom Investors LP acquired a new stake in Tamboran Resources during the third quarter worth about $351,000. Ingalls & Snyder LLC purchased a new stake in shares of Tamboran Resources during the 3rd quarter worth about $1,287,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Tamboran Resources during the 3rd quarter worth about $1,930,000. Yaupon Capital Management LP raised 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 valued at $2,832,000 after buying an additional 9,355 shares during the period. Finally, Edge Capital Group LLC acquired a new stake in shares of Tamboran Resources in the second quarter worth $4,687,000.

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.