Tamboran Resources Corp’s (NYSE:TBN) Lock-Up Period Will End on December 24th

Tamboran Resources’ (NYSE:TBN) lock-up period will expire on Tuesday, December 24th. Tamboran Resources had issued 3,125,000 shares in its IPO on June 27th. The total size of the offering was $75,000,000 based on an initial share price of $24.00. After the expiration of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

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

Tamboran Resources Price Performance

Shares of TBN opened at $16.68 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources has a 12 month low of $15.75 and a 12 month high of $25.99. The firm has a 50 day simple moving average of $18.29.

Hedge Funds Weigh In On Tamboran Resources

Several hedge funds and other institutional investors have recently made changes to their positions in TBN. Edge Capital Group LLC purchased a new position in shares of Tamboran Resources in the second quarter valued at approximately $4,687,000. HITE Hedge Asset Management LLC purchased a new position in shares of Tamboran Resources in the second quarter valued at approximately $6,750,000. Encompass Capital Advisors LLC purchased a new position in shares of Tamboran Resources in the second quarter valued at approximately $4,687,000. The Manufacturers Life Insurance Company purchased a new position in shares of Tamboran Resources in the third quarter valued at approximately $1,930,000. Finally, Baupost Group LLC MA purchased a new position in shares of Tamboran Resources in the third quarter valued at approximately $11,599,000.

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.