Tamboran Resources Corporation (NYSE:TBN) Receives $36.40 Average Price Target from Analysts

Tamboran Resources Corporation (NYSE:TBN) has been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $36.40.

A number of equities research analysts have weighed in on TBN shares. Royal Bank Of Canada lifted their price objective on Tamboran Resources from $30.00 to $38.00 and gave the company a “sector perform” rating in a report on Friday, October 24th. Wells Fargo & Company began coverage on Tamboran Resources in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $35.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Tuesday, October 14th.

Tamboran Resources Trading Down 2.0%

Shares of TBN stock opened at $25.25 on Wednesday. The firm has a fifty day moving average of $25.25 and a 200-day moving average of $22.63. The stock has a market cap of $517.27 million, a price-to-earnings ratio of -9.82 and a beta of 0.31. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $34.50. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.92 and a current ratio of 0.92.

Tamboran Resources (NYSE:TBN) last issued its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.21). The firm had revenue of ($0.66) million for the quarter, compared to analyst estimates of $0.51 million. On average, equities research analysts forecast that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Tamboran Resources

In other news, Director Phillip Z. Pace bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average price of $23.50 per share, for a total transaction of $47,000.00. Following the transaction, the director directly owned 2,000 shares of the company’s stock, valued at $47,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Tamboran Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBN. Financial Management Professionals Inc. acquired a new stake in shares of Tamboran Resources during the third quarter worth approximately $27,000. Bank of America Corp DE increased its holdings 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. State of Wyoming bought a new position in Tamboran Resources in the 2nd quarter valued at $99,000. Whitebox Advisors LLC acquired a new position in Tamboran Resources in the second quarter worth $1,194,000. Finally, Arbiter Partners Capital Management LLC bought a new stake in shares of Tamboran Resources during the third quarter worth $1,356,000.

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.