Tamboran Resources Corporation (NYSE:TBN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Tamboran Resources Corporation (NYSE:TBN) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.40.

TBN has been the subject of a number of research reports. Royal Bank Of Canada raised their target price on shares of Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Tuesday, October 14th. Finally, Wells Fargo & Company initiated coverage on Tamboran Resources in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock.

Tamboran Resources Stock Performance

Shares of NYSE TBN opened at $25.64 on Wednesday. Tamboran Resources has a 1 year low of $15.75 and a 1 year high of $34.50. The firm has a market cap of $525.34 million, a P/E ratio of -9.98 and a beta of 0.30. The stock has a fifty day moving average price of $25.40 and a two-hundred day moving average price of $22.51. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.92 and a current ratio of 0.92.

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

Insiders Place Their Bets

In related news, Director Phillip Z. Pace acquired 2,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were purchased at an average price of $23.50 per share, for a total transaction of $47,000.00. Following the acquisition, the director owned 2,000 shares in the company, valued at approximately $47,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new stake in shares of Tamboran Resources during the third quarter valued at approximately $27,000. Bank of America Corp DE grew its position in Tamboran Resources by 66.7% during the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after purchasing an additional 600 shares in the last quarter. State of Wyoming acquired a new stake in Tamboran Resources during the 2nd quarter valued at $99,000. Whitebox Advisors LLC acquired a new stake in Tamboran Resources during the 2nd quarter valued at $1,194,000. Finally, Arbiter Partners Capital Management LLC purchased a new stake in shares of Tamboran Resources in the third quarter valued at $1,356,000.

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.