Tamboran Resources (NYSE:TBN) Receives Overweight Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Tamboran Resources (NYSE:TBN) in a report published on Tuesday morning,Benzinga reports. They currently have a $74.00 target price on the stock, up from their prior target price of $41.00.

A number of other brokerages also recently issued reports on TBN. Wells Fargo & Company lifted their price objective on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Tamboran Resources has a consensus rating of “Moderate Buy” and an average price target of $51.50.

Tamboran Resources Price Performance

Shares of TBN stock opened at $50.44 on Tuesday. The stock’s 50-day moving average is $30.87 and its 200 day moving average is $27.20. Tamboran Resources has a 1-year low of $17.29 and a 1-year high of $52.21. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market cap of $1.14 billion, a P/E ratio of -26.41 and a beta of 0.13.

Tamboran Resources (NYSE:TBN) last announced its earnings results on Thursday, February 12th. The company reported ($0.33) EPS for the quarter, hitting analysts’ consensus estimates of ($0.33). Research analysts predict that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tamboran Resources

A number of large investors have recently modified their holdings of TBN. Bank of America Corp DE increased its holdings in shares of 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 in the last quarter. Financial Management Professionals Inc. acquired a new stake in Tamboran Resources in the 3rd quarter worth approximately $27,000. State of Wyoming acquired a new stake in Tamboran Resources in the 2nd quarter worth approximately $99,000. Walleye Capital LLC purchased a new stake in Tamboran Resources during the 4th quarter worth approximately $204,000. Finally, Arbiter Partners Capital Management LLC grew its position in Tamboran Resources by 15.5% during the 4th quarter. Arbiter Partners Capital Management LLC now owns 57,212 shares of the company’s stock worth $1,558,000 after purchasing an additional 7,670 shares during the last quarter.

About Tamboran Resources

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.