Analysts Set Tamboran Resources Corporation (NYSE:TBN) PT at $51.50

Shares of Tamboran Resources Corporation (NYSE:TBN) have received an average rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $51.50.

Several research firms recently weighed in on TBN. Piper Sandler restated an “overweight” rating and issued a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Friday, January 9th. 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 note on Monday.

Tamboran Resources Trading Down 2.8%

NYSE:TBN opened at $43.72 on Tuesday. Tamboran Resources has a one year low of $17.29 and a one 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’s 50-day simple moving average is $31.54 and its 200 day simple moving average is $27.44. The firm has a market capitalization of $989.87 million, a P/E ratio of -22.89 and a beta of -1.60.

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

Institutional Trading of Tamboran Resources

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE lifted its stake in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after buying 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 bought a new stake in shares of Tamboran Resources during the second quarter valued at approximately $99,000. Financial Management Professionals Inc. purchased a new position in Tamboran Resources in the 3rd quarter worth approximately $27,000. Finally, Ingalls & Snyder LLC raised its holdings in Tamboran Resources by 124.1% in the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after acquiring 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.