Tamboran Resources’ (TBN) Overweight Rating Reaffirmed at Piper Sandler

Tamboran Resources (NYSE:TBN)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $74.00 price target on the stock, up from their previous price target of $41.00. Piper Sandler’s target price suggests a potential upside of 44.47% from the company’s previous close.

TBN has been the subject of several other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a report on Friday, January 9th. Wells Fargo & Company increased their price objective on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

Tamboran Resources Stock Performance

Shares of TBN stock traded up $6.78 on Tuesday, hitting $51.22. 105,712 shares of the stock traded hands, compared to its average volume of 71,396. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market capitalization of $1.16 billion, a PE ratio of -26.78 and a beta of 0.13. Tamboran Resources has a 1-year low of $17.29 and a 1-year high of $51.91. The company’s fifty day moving average is $30.40 and its 200 day moving average is $27.00.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.33) EPS for the quarter, hitting analysts’ consensus estimates of ($0.33). On average, equities research analysts predict that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tamboran Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. bought a new position in Tamboran Resources in the 3rd quarter worth approximately $27,000. 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 acquiring an additional 600 shares in the last quarter. State of Wyoming bought a new stake in Tamboran Resources during the 2nd quarter valued at $99,000. Walleye Capital LLC acquired a new position in Tamboran Resources during the 4th quarter worth $204,000. Finally, XY Capital Ltd acquired a new position in Tamboran Resources during the 4th quarter worth $253,000.

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.