Tamboran Resources (NYSE:TBN) Given New $58.00 Price Target at Wells Fargo & Company

Tamboran Resources (NYSE:TBN) had its price objective hoisted by Wells Fargo & Company from $35.00 to $58.00 in a report issued on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Tamboran Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Tamboran Resources Trading Up 2.3%

NYSE:TBN opened at $44.41 on Monday. The company has a 50-day moving average price of $30.40 and a 200-day moving average price of $27.00. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of -23.25 and a beta of 0.13. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09. Tamboran Resources has a 12 month low of $17.29 and a 12 month high of $45.07.

Tamboran Resources (NYSE:TBN) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.33) earnings per share for the quarter, meeting the consensus estimate of ($0.33). Equities analysts predict that Tamboran Resources will post -1.86 EPS for the current year.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds have recently bought and sold shares of TBN. Bank of America Corp DE increased its stake 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 valued at $31,000 after purchasing an additional 600 shares in the last quarter. Whitebox Advisors LLC bought a new stake in shares of Tamboran Resources during the second quarter valued at approximately $1,194,000. State of Wyoming purchased a new position in Tamboran Resources in the 2nd quarter worth approximately $99,000. Financial Management Professionals Inc. bought a new position in Tamboran Resources in the 3rd quarter valued at approximately $27,000. Finally, Ingalls & Snyder LLC boosted its stake in Tamboran Resources by 124.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock valued at $7,079,000 after purchasing an additional 143,194 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.