Tamboran Resources Corporation (NYSE:TBN) Receives $51.50 Consensus Target Price from Analysts

Tamboran Resources Corporation (NYSE:TBN) has been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $51.50.

Several equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research report on Wednesday, April 8th. Piper Sandler restated an “overweight” rating and set a $74.00 target price (up from $41.00) on shares of Tamboran Resources in a research report on Tuesday, March 31st. Finally, Wells Fargo & Company increased their target price on Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th.

Tamboran Resources Price Performance

Tamboran Resources stock opened at $35.91 on Friday. Tamboran Resources has a 12 month low of $17.29 and a 12 month high of $52.21. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09. The business’s 50 day simple moving average is $34.58 and its 200 day simple moving average is $28.98. The company has a market cap of $814.13 million, a price-to-earnings ratio of -18.80 and a beta of -1.60.

Tamboran Resources (NYSE:TBN) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.33) EPS for the quarter, meeting the consensus estimate of ($0.33). Sell-side analysts forecast that Tamboran Resources will post -1.42 EPS for the current year.

Insider Buying and Selling at Tamboran Resources

In other Tamboran Resources news, Director Scott D. Sheffield acquired 6,990 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were bought at an average price of $36.02 per share, for a total transaction of $251,779.80. Following the completion of the transaction, the director owned 292,430 shares of the company’s stock, valued at approximately $10,533,328.60. This represents a 2.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip Z. Pace bought 10,000 shares of Tamboran Resources stock in a transaction that occurred on Monday, April 13th. The stock was purchased at an average cost of $36.99 per share, for a total transaction of $369,900.00. Following the purchase, the director owned 35,809 shares of the company’s stock, valued at $1,324,574.91. The trade was a 38.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HITE Hedge Asset Management LLC increased its stake in Tamboran Resources by 44.0% in the third quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock valued at $47,575,000 after acquiring an additional 530,850 shares during the last quarter. Arbiter Partners Capital Management LLC bought a new position in Tamboran Resources in the third quarter valued at $1,356,000. Ingalls & Snyder LLC increased its stake in Tamboran Resources by 124.1% in the third quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock valued at $7,079,000 after acquiring an additional 143,194 shares during the last quarter. Cooper Investors PTY Ltd. bought a new position in Tamboran Resources in the fourth quarter valued at $690,000. Finally, State of Wyoming increased its stake in Tamboran Resources by 178.9% in the third quarter. State of Wyoming now owns 12,954 shares of the company’s stock valued at $355,000 after acquiring an additional 8,310 shares during the last quarter.

Tamboran Resources Company Profile

Tamboran Resources is an independent energy company focused on the exploration and development of unconventional natural gas resources. Headquartered in Canada and listed on the New York Stock Exchange under the ticker TBN, the company concentrates its activities on onshore basins in Australia. Tamboran’s primary objective is to advance its exploration acreage toward commercial viability by leveraging modern drilling and reservoir evaluation techniques.

The company holds exploration licenses in the Beetaloo Basin in the Northern Territory of Australia, where it is conducting appraisal drilling programs to define reservoir characteristics and recoverability.