Tamboran Resources (NYSE:TBN) Issues Quarterly Earnings Results

Tamboran Resources (NYSE:TBN) announced its quarterly earnings results on Wednesday. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.06), FiscalAI reports. The business had revenue of $0.99 million during the quarter, compared to the consensus estimate of $2.40 million.

Here are the key takeaways from Tamboran Resources’ conference call:

• Tamboran said the pilot project remains on track for first gas sales in Q3 2026, with the Sturt Plateau Compression Facility 88% complete and the connected pipeline undergoing final commissioning.
• The company strengthened its liquidity by raising $198 million in equity, ending the quarter with $95 million in cash and a pro forma cash position of $298 million including expected proceeds from the Daly Waters acreage sale.
• Tamboran announced a farm-out with Daly Waters Energy covering about 10,000 acres for staged carry of up to $28.5 million, which it says helps fund near-term development and validates Beetaloo asset values.
• The company expects to test local Beetaloo sand in completions, which could cut stimulation costs by about $4 million per future well if successful. Management also noted other drilling cost improvements could come later as the basin matures.
• Tamboran expects the Falcon acquisition to close imminently after receiving the remaining approvals, while it continues to pursue a strategic JV partner and said improved basin valuations are supporting those discussions.

Tamboran Resources Trading Down 1.2%

Tamboran Resources stock traded down $0.44 during trading on Friday, hitting $36.01. The company had a trading volume of 91,984 shares, compared to its average volume of 128,774. Tamboran Resources has a 1-year low of $17.29 and a 1-year high of $52.21. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09. The company’s 50 day simple moving average is $35.69 and its 200-day simple moving average is $29.74. The stock has a market cap of $816.22 million, a price-to-earnings ratio of -19.15 and a beta of -2.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their price target on Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, March 30th. Piper Sandler reissued an “overweight” rating and set a $74.00 target price (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Royal Bank Of Canada raised shares of 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Tamboran Resources has an average rating of “Moderate Buy” and a consensus target price of $55.75.

Insider Activity at Tamboran Resources

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

Hedge Funds Weigh In On Tamboran Resources

Several institutional investors have recently modified their holdings of TBN. Bank of America Corp DE grew its stake in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after acquiring an additional 600 shares in the last quarter. Whitebox Advisors LLC purchased a new stake in shares of Tamboran Resources during the 2nd quarter worth $1,194,000. State of Wyoming purchased a new stake in shares of Tamboran Resources during the 2nd quarter worth $99,000. UBS Group AG lifted its position in shares of Tamboran Resources by 170.9% during the 3rd quarter. UBS Group AG now owns 278,938 shares of the company’s stock worth $7,637,000 after purchasing an additional 175,973 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in shares of Tamboran Resources during the 4th quarter worth $493,000.

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.