Atom Investors LP Takes $351,000 Position in Tamboran Resources Corp (NYSE:TBN)

Atom Investors LP bought a new stake in shares of Tamboran Resources Corp (NYSE:TBN) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,259 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company purchased a new stake in Tamboran Resources in the 3rd quarter worth about $1,930,000. Edge Capital Group LLC purchased a new stake in Tamboran Resources in the 2nd quarter worth about $4,687,000. Encompass Capital Advisors LLC purchased a new stake in Tamboran Resources in the 2nd quarter worth about $4,687,000. HITE Hedge Asset Management LLC purchased a new stake in Tamboran Resources in the 2nd quarter worth about $6,750,000. Finally, Baupost Group LLC MA purchased a new stake in Tamboran Resources in the 3rd quarter worth about $11,599,000.

Tamboran Resources Stock Performance

Shares of TBN stock opened at $16.35 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59. The stock has a 50-day moving average of $18.79. Tamboran Resources Corp has a one year low of $15.89 and a one year high of $25.99.

Analysts Set New Price Targets

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

Tamboran Resources 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.