Tamboran Resources (NYSE:TBN) Sets New 52-Week High – Should You Buy?

Tamboran Resources Corporation (NYSE:TBN) shares reached a new 52-week high on Tuesday . The company traded as high as $32.57 and last traded at $31.8810, with a volume of 14453 shares trading hands. The stock had previously closed at $31.07.

Analyst Upgrades and Downgrades

A number of research firms have commented on TBN. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Friday, January 9th. Wells Fargo & Company started coverage on shares of Tamboran Resources in a report on Tuesday, December 2nd. They set an “overweight” rating and a $35.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $36.33.

Tamboran Resources Trading Up 1.6%

The company has a market cap of $714.36 million, a PE ratio of -16.52 and a beta of 0.18. The stock’s 50 day moving average is $27.37 and its 200-day moving average is $25.01. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.09.

Tamboran Resources (NYSE:TBN) last posted its earnings results on Wednesday, February 11th. The company reported ($0.33) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.33). The business had revenue of $0.05 million during the quarter. As a group, sell-side analysts anticipate that Tamboran Resources Corporation will post -1.86 EPS for the current year.

Hedge Funds Weigh In On Tamboran Resources

A number of institutional investors and hedge funds have recently modified their holdings of TBN. Bank of America Corp DE increased its position in shares of 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 purchasing an additional 600 shares during the last quarter. Financial Management Professionals Inc. purchased a new position in Tamboran Resources during the third quarter worth $27,000. State of Wyoming bought a new position in Tamboran Resources during the second quarter valued at $99,000. Walleye Capital LLC bought a new position in Tamboran Resources during the fourth quarter valued at $204,000. Finally, Arbiter Partners Capital Management LLC raised its stake in shares of Tamboran Resources by 15.5% in the fourth quarter. Arbiter Partners Capital Management LLC now owns 57,212 shares of the company’s stock valued at $1,558,000 after acquiring an additional 7,670 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.