HITE Hedge Asset Management LLC Acquires 22,004 Shares of Tamboran Resources Corp (NYSE:TBN)

HITE Hedge Asset Management LLC increased its stake in Tamboran Resources Corp (NYSE:TBN - Free Report) by 4.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 511,421 shares of the company's stock after purchasing an additional 22,004 shares during the period. HITE Hedge Asset Management LLC owned approximately 3.60% of Tamboran Resources worth $10,735,000 as of its most recent filing with the SEC.

Separately, Ingalls & Snyder LLC boosted its position in shares of Tamboran Resources by 13.0% during 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 in the last quarter.

Analyst Ratings Changes

A number of brokerages have weighed in on TBN. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $31.00 target price on shares of Tamboran Resources in a report on Thursday, January 9th. Alliance Global Partners initiated coverage on shares of Tamboran Resources in a report on Tuesday, January 21st. They set a "buy" rating and a $32.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $36.60.

Tamboran Resources Price Performance

Shares of NYSE:TBN traded up $0.44 during mid-day trading on Wednesday, reaching $22.25. 3,302 shares of the company's stock were exchanged, compared to its average volume of 35,465. Tamboran Resources Corp has a twelve month low of $15.75 and a twelve month high of $34.50. The business's fifty day moving average price is $23.66 and its 200-day moving average price is $21.20. 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 (NYSE:TBN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.34) by $0.01. As a group, equities research analysts forecast that Tamboran Resources Corp will post -1.86 earnings per share 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.