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

Tamboran Resources Corporation (NYSE:TBN) has been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $55.75.

A number of research firms have weighed in on TBN. Royal Bank Of Canada upgraded Tamboran Resources from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $38.00 to $55.00 in a research note on Wednesday, April 29th. 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, March 31st. Wells Fargo & Company raised their price target on Tamboran Resources from $35.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th.

Insiders Place Their Bets

In other news, Director Phillip Z. Pace purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average cost of $36.99 per share, with a total value of $369,900.00. Following the acquisition, the director owned 35,809 shares in the company, valued at approximately $1,324,574.91. This trade represents a 38.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Scott D. Sheffield acquired 6,990 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was purchased at an average cost of $36.02 per share, for a total transaction of $251,779.80. Following the completion of the acquisition, the director owned 292,430 shares in the company, valued at approximately $10,533,328.60. This represents a 2.45% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Tamboran Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. HITE Hedge Asset Management LLC lifted its holdings in shares of Tamboran Resources by 44.0% during the third quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock worth $47,575,000 after buying an additional 530,850 shares in the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of Tamboran Resources by 124.1% during the third quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after buying an additional 143,194 shares in the last quarter. Arbiter Partners Capital Management LLC acquired a new stake in shares of Tamboran Resources during the third quarter worth $1,356,000. Cooper Investors PTY Ltd. acquired a new stake in shares of Tamboran Resources during the fourth quarter worth $690,000. Finally, UBS Group AG lifted its holdings in shares of Tamboran Resources by 55.4% during the fourth quarter. UBS Group AG now owns 433,598 shares of the company’s stock worth $11,807,000 after buying an additional 154,660 shares in the last quarter.

Tamboran Resources Stock Up 0.5%

Shares of TBN stock opened at $36.99 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. Tamboran Resources has a 1 year low of $17.29 and a 1 year high of $52.21. The firm’s fifty day moving average price is $36.04 and its two-hundred day moving average price is $29.97. The firm has a market capitalization of $1.05 billion, a P/E ratio of -19.78 and a beta of -2.17.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). The business had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $2.40 million. On average, equities analysts predict that Tamboran Resources will post -1.44 EPS for the current fiscal year.

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.