Tamboran Resources (NYSE:TBN) Posts Earnings Results, Misses Expectations By $0.21 EPS

Tamboran Resources (NYSE:TBN) issued its quarterly earnings data on Thursday. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.21), Zacks reports. The company had revenue of ($0.66) million during the quarter, compared to the consensus estimate of $0.51 million.

Tamboran Resources Stock Performance

Shares of Tamboran Resources stock traded up $0.01 during midday trading on Friday, hitting $23.96. The company had a trading volume of 27,249 shares, compared to its average volume of 74,072. The company has a fifty day simple moving average of $24.71 and a 200 day simple moving average of $22.03. The stock has a market cap of $426.91 million, a price-to-earnings ratio of -9.32 and a beta of 0.26. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.02. Tamboran Resources has a 12-month low of $15.75 and a 12-month high of $34.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TBN. UBS Group AG grew its holdings in shares of Tamboran Resources by 170.9% during the third quarter. UBS Group AG now owns 278,938 shares of the company’s stock valued at $7,637,000 after buying an additional 175,973 shares during the last quarter. Whitebox Advisors LLC acquired a new stake in Tamboran Resources during the 2nd quarter worth about $1,194,000. Bank of America Corp DE lifted its position in Tamboran Resources by 1,471.7% during the 2nd quarter. Bank of America Corp DE now owns 11,788 shares of the company’s stock worth $251,000 after acquiring an additional 11,038 shares during the period. Finally, State of Wyoming purchased a new stake in Tamboran Resources during the 2nd quarter valued at about $99,000.

Analyst Upgrades and Downgrades

Several analysts have commented on TBN shares. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research report on Tuesday, October 14th. Royal Bank Of Canada increased their target price on shares of Tamboran Resources from $30.00 to $38.00 and gave the company a “sector perform” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.75.

Tamboran Resources Company Profile

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.