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

Tamboran Resources Corporation (NYSE:TBN) has been given an average recommendation of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $58.50.

TBN has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Tamboran Resources from $35.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, March 30th. Piper Sandler restated an “overweight” rating and issued 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 lifted their target price for the company from $38.00 to $55.00 in a report on Wednesday, April 29th. Roth Capital started coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Monday.

Tamboran Resources Trading Up 1.7%

Shares of TBN stock opened at $32.49 on Thursday. The company has a market capitalization of $920.23 million, a P/E ratio of -17.38 and a beta of -2.10. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $34.49 and its two-hundred day moving average is $32.41. Tamboran Resources has a twelve month low of $18.18 and a twelve month high of $52.21.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). Equities analysts forecast that Tamboran Resources will post -1.42 EPS for the current year.

Insider Transactions at Tamboran Resources

In other Tamboran Resources news, Director Phillip Z. Pace bought 10,000 shares of the business’s stock in a transaction dated 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 purchase, the director owned 35,809 shares in the company, valued at approximately $1,324,574.91. This represents a 38.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in Tamboran Resources by 66.7% in the fourth 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 during the period. Whitebox Advisors LLC acquired a new position in shares of Tamboran Resources during the 2nd quarter worth $1,194,000. State of Wyoming purchased a new position in shares of Tamboran Resources in the 2nd quarter valued at about $99,000. UBS Group AG increased its holdings in shares of Tamboran Resources by 170.9% in the 3rd quarter. UBS Group AG now owns 278,938 shares of the company’s stock valued at $7,637,000 after purchasing an additional 175,973 shares in the last quarter. Finally, HITE Hedge Asset Management LLC lifted its stake in shares of Tamboran Resources by 44.0% in the third quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock valued at $47,575,000 after purchasing an additional 530,850 shares during the period.

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.