Tamboran Resources (NYSE:TBN) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen cut shares of Tamboran Resources (NYSE:TBN) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research report on Friday, October 2nd. Scotiabank began coverage on Tamboran Resources in a research note on Wednesday, October 14th. They set an “outperform” rating and a $70.00 target price for the company. Finally, Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st. Five 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.80.

Tamboran Resources Stock Up 2.0%

Shares of Tamboran Resources stock traded up $0.59 during trading on Friday, hitting $29.33. 143,845 shares of the stock traded hands, compared to its average volume of 231,766. The stock has a market cap of $1.03 billion, a P/E ratio of -15.68 and a beta of -1.82. The company has a fifty day moving average price of $33.37 and a two-hundred day moving average price of $33.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.61 and a current ratio of 2.61. Tamboran Resources has a twelve month low of $22.33 and a twelve month high of $52.21.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($6.02) by $5.67. The business had revenue of $2.00 million during the quarter, compared to analyst estimates of $5.80 million. During the same period in the previous year, the firm posted ($0.47) EPS. Equities research analysts predict that Tamboran Resources will post -0.50 EPS for the current fiscal year.

Institutional Investors Weigh In On Tamboran Resources

Several hedge funds have recently bought and sold shares of TBN. Quantbot Technologies LP acquired a new position in shares of Tamboran Resources in the second quarter valued at approximately $39,000. GK Wealth Management LLC acquired a new stake in Tamboran Resources during the 3rd quarter worth approximately $41,000. Deutsche Bank AG bought a new stake in Tamboran Resources in the 2nd quarter valued at $42,000. Avalon Trust Co bought a new stake in Tamboran Resources in the 2nd quarter valued at $44,000. Finally, Janney Montgomery Scott LLC bought a new stake in Tamboran Resources in the 1st quarter valued at $240,000.

Tamboran Resources Company Profile

Tamboran Resources Limited is an independent natural gas company focused on exploring and developing unconventional gas resources in Australia’s Beetaloo Basin in the Northern Territory. Its activities include drilling and evaluating wells to assess the basin’s shale gas potential. The company’s work is centered on the Beetaloo Basin, where it holds interests in exploration and appraisal acreage. Tamboran is working to advance potential gas resources toward development, with the aim of supplying Australian domestic markets and, subject to development and market conditions, supporting future gas exports.