Tamboran Resources Corporation (NYSE:TBN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Tamboran Resources Corporation (NYSE:TBN) has received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $36.75.

A number of research firms have commented on TBN. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their price objective on shares of Tamboran Resources from $30.00 to $38.00 and gave the company a “sector perform” rating in a research note on Friday, October 24th.

Institutional Trading of Tamboran Resources

Several institutional investors have recently modified their holdings of TBN. Bank of America Corp DE boosted its stake 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 buying an additional 600 shares in the last quarter. HITE Hedge Asset Management LLC lifted its holdings in Tamboran Resources by 58.3% in the 1st quarter. HITE Hedge Asset Management LLC now owns 809,505 shares of the company’s stock valued at $19,420,000 after acquiring an additional 298,084 shares during the last quarter. Ingalls & Snyder LLC boosted its position in shares of Tamboran Resources by 36.2% during the 2nd quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company’s stock valued at $2,459,000 after purchasing an additional 30,650 shares in the last quarter. Alberta Investment Management Corp grew its stake in shares of Tamboran Resources by 116.8% in the 2nd quarter. Alberta Investment Management Corp now owns 758,680 shares of the company’s stock worth $16,175,000 after purchasing an additional 408,680 shares during the last quarter. Finally, Whitebox Advisors LLC acquired a new position in shares of Tamboran Resources in the 2nd quarter worth approximately $1,194,000.

Tamboran Resources Stock Up 0.0%

Shares of Tamboran Resources stock opened at $23.96 on Friday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.55 and a quick ratio of 1.55. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50. The business’s fifty day moving average price is $24.71 and its two-hundred day moving average price is $22.03. The company has a market capitalization of $426.91 million, a P/E ratio of -9.32 and a beta of 0.26.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.21). The firm had revenue of ($0.66) million during the quarter, compared to the consensus estimate of $0.51 million. As a group, research analysts forecast that Tamboran Resources will post -1.86 EPS for the current 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.