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

Tamboran Resources Corporation (NYSE:TBN) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.25.

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

Insider Transactions at Tamboran Resources

In other Tamboran Resources news, Director Phillip Z. Pace bought 2,000 shares of the stock in a transaction on Friday, November 21st. The shares were purchased at an average price of $23.50 per share, with a total value of $47,000.00. Following the acquisition, the director directly owned 2,000 shares of the company’s stock, valued at $47,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Tamboran Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its stake 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 during the last quarter. Financial Management Professionals Inc. bought a new position in shares of Tamboran Resources during the 3rd quarter worth about $27,000. State of Wyoming bought a new position in shares of Tamboran Resources during the 2nd quarter worth about $99,000. Ingalls & Snyder LLC raised its position in shares of Tamboran Resources by 36.2% during the second quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company’s stock valued at $2,459,000 after buying an additional 30,650 shares during the last quarter. Finally, Arbiter Partners Capital Management LLC bought a new stake in shares of Tamboran Resources in the third quarter valued at about $1,356,000.

Tamboran Resources Stock Performance

Shares of TBN opened at $26.81 on Friday. The company’s fifty day moving average is $24.90 and its 200-day moving average is $23.15. Tamboran Resources has a 12 month low of $17.29 and a 12 month high of $34.50. The firm has a market cap of $549.23 million, a price-to-earnings ratio of -10.43 and a beta of 0.18. 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 (NYSE:TBN) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.21). The company had revenue of ($0.66) million for the quarter, compared to analyst estimates of $0.51 million. Equities analysts expect that Tamboran Resources will post -1.86 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.