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

Tamboran Resources’ (NYSE:TBN) lock-up period will end 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 Tamboran Resources’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Wall Street Analysts Forecast Growth

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

Tamboran Resources Price Performance

Shares of NYSE:TBN opened at $17.25 on Friday. 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’s 50 day moving average price is $18.08. Tamboran Resources has a 12 month low of $15.75 and a 12 month high of $25.99.

Institutional Trading of Tamboran Resources

A number of institutional investors have recently bought and sold shares of TBN. Baupost Group LLC MA acquired a new position in shares of Tamboran Resources during the 3rd quarter worth $11,599,000. HITE Hedge Asset Management LLC acquired a new stake in Tamboran Resources in the 2nd quarter valued at about $6,750,000. Encompass Capital Advisors LLC acquired a new position in Tamboran Resources during the second quarter worth about $4,687,000. Edge Capital Group LLC purchased a new stake in shares of Tamboran Resources in the second quarter valued at about $4,687,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Tamboran Resources in the third quarter valued at approximately $1,930,000.

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.