Tamboran Resources Corporation (NYSE:TBN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Tamboran Resources Corporation (NYSE:TBN) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.25.

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research report on Tuesday, October 14th. Royal Bank Of Canada raised their price target on Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Finally, Wells Fargo & Company started coverage on Tamboran Resources in a research report on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 price target on the stock.

Tamboran Resources Trading Down 3.0%

TBN opened at $26.14 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.02. Tamboran Resources has a 52 week low of $17.29 and a 52 week high of $34.50. The business’s 50 day moving average is $24.92 and its two-hundred day moving average is $23.17. The firm has a market cap of $535.61 million, a price-to-earnings ratio of -10.17 and a beta of 0.18.

Tamboran Resources (NYSE:TBN) last announced its earnings results on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Tamboran Resources will post -1.86 EPS for the current year.

Insider Activity

In related news, Director Phillip Z. Pace purchased 2,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director directly owned 2,000 shares of the company’s stock, valued at $47,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Tamboran Resources

Large investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in shares of Tamboran Resources in the third quarter valued at about $27,000. Bank of America Corp DE lifted its position in Tamboran Resources by 66.7% in the fourth 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 during the period. State of Wyoming purchased a new stake in Tamboran Resources in the 2nd quarter valued at approximately $99,000. Whitebox Advisors LLC purchased a new stake in Tamboran Resources in the 2nd quarter valued at approximately $1,194,000. Finally, Arbiter Partners Capital Management LLC acquired a new position in Tamboran Resources during the 3rd quarter worth approximately $1,356,000.

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.