Tamboran Resources Corporation (NYSE:TBN) Receives Average Rating of “Buy” from Brokerages

Shares of Tamboran Resources Corporation (NYSE:TBN) have earned a consensus rating of “Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $36.50.

A number of analysts recently weighed in on TBN shares. Northland Securities started coverage on Tamboran Resources in a research note on Wednesday, May 28th. They issued an “outperform” rating and a $36.00 price target on the stock. Northland Capmk raised Tamboran Resources to a “strong-buy” rating in a report on Wednesday, May 28th.

Hedge Funds Weigh In On Tamboran Resources

A number of institutional investors have recently made changes to their positions in TBN. HITE Hedge Asset Management LLC grew its position in shares of Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company’s stock valued at $10,735,000 after purchasing an additional 22,004 shares during the period. Yaupon Capital Management LP grew its position in Tamboran Resources by 126.4% during the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company’s stock valued at $6,623,000 after acquiring an additional 176,189 shares during the period. Nuveen Asset Management LLC grew its position in Tamboran Resources by 1.5% during the fourth quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company’s stock valued at $6,390,000 after acquiring an additional 4,410 shares during the period. Finally, Bank of America Corp DE grew its position in Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after acquiring an additional 600 shares during the period.

Tamboran Resources Stock Down 1.8%

Shares of TBN stock opened at $22.55 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.04. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50. The business’s 50 day moving average is $21.19 and its two-hundred day moving average is $21.80.

Tamboran Resources (NYSE:TBN) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.09). Sell-side analysts expect that Tamboran Resources will post -1.86 earnings per share for the current year.

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.