Tamboran Resources (NYSE:TBN) Issues Quarterly Earnings Results

Tamboran Resources (NYSE:TBN) released its earnings results on Friday. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($25.54) by $25.59, FiscalAI reports.

Tamboran Resources Stock Up 1.1%

Shares of NYSE TBN opened at $36.16 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.02 billion, a P/E ratio of -19.34 and a beta of -2.03. Tamboran Resources has a 52 week low of $19.55 and a 52 week high of $52.21. The business has a 50-day simple moving average of $36.27 and a two-hundred day simple moving average of $35.40.

Analysts Set New Price Targets

TBN has been the topic of several research reports. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research note on Monday, July 6th. Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

About Tamboran Resources

Tamboran Resources Corporation (NYSE:TBN) is an Australia-focused natural gas exploration and development company. The company’s primary asset base is located in the Beetaloo Basin in Australia’s Northern Territory, where it is pursuing the development of large-scale shale gas resources.

Tamboran’s activities include acquiring and evaluating exploration acreage, drilling and testing wells, and advancing infrastructure and commercial development plans for natural gas production. Its Beetaloo Basin portfolio includes the Shenandoah South and Amungee projects, which are intended to support future domestic gas supply and potential liquefied natural gas export opportunities.

The company was established to develop unconventional gas resources in Australia and has focused its operations on the Northern Territory rather than maintaining a broad international footprint.