Tamboran Resources (NYSE:TBN) Stock Rating Upgraded by Wall Street Zen

Tamboran Resources (NYSE:TBN) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently commented on TBN. Zacks Research upgraded shares of Tamboran Resources from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Scotiabank initiated coverage on shares of Tamboran Resources in a research report on Wednesday. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.80.

Tamboran Resources Price Performance

NYSE:TBN opened at $31.30 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -16.74 and a beta of -1.91. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average is $36.56 and its two-hundred day moving average is $35.53. Tamboran Resources has a 12-month low of $22.33 and a 12-month high of $52.21.

Institutional Investors Weigh In On Tamboran Resources

Hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of Tamboran Resources during the 2nd quarter valued at about $39,000. GK Wealth Management LLC purchased a new position in shares of Tamboran Resources during the 3rd quarter worth about $41,000. Deutsche Bank AG purchased a new position in shares of Tamboran Resources during the 2nd quarter worth about $42,000. Avalon Trust Co purchased a new position in shares of Tamboran Resources during the 2nd quarter worth about $44,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Tamboran Resources in the first quarter worth approximately $240,000.

Tamboran Resources Company Profile

Tamboran Resources is an Australian natural gas exploration and development company focused on the Beetaloo Basin in the Northern Territory. The company is developing large-scale onshore natural gas resources, with an emphasis on producing lower-carbon-intensity gas for Australian energy markets.

Tamboran’s activities include exploration, appraisal drilling, resource development and the planning of production infrastructure. Its principal project area includes the Shenandoah South development in the Beetaloo Basin, where the company is working to establish a long-term supply of natural gas for domestic use and potential liquefied natural gas export markets.

Tamboran Resources is headquartered in Australia and has been led by Chief Executive Officer Joel Riddle.