Tamboran Resources (NYSE:TBN) Reaches New 1-Year High – Still a Buy?

Tamboran Resources Corporation (NYSE:TBN)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $32.88 and last traded at $31.8450, with a volume of 7797 shares traded. The stock had previously closed at $30.97.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Friday, January 9th. Wells Fargo & Company started coverage on Tamboran Resources in a research report on Tuesday, December 2nd. They set an “overweight” rating and a $35.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.33.

Tamboran Resources Price Performance

The company has a market cap of $701.84 million, a PE ratio of -16.23 and a beta of 0.13. The firm has a 50 day moving average of $28.20 and a two-hundred day moving average of $25.45. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings data on Wednesday, February 11th. The company reported ($0.33) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.33). The firm had revenue of $0.05 million for the quarter. Research analysts predict that Tamboran Resources Corporation will post -1.86 earnings per share for the current fiscal year.

Institutional Trading of Tamboran Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alberta Investment Management Corp lifted its position in Tamboran Resources by 13.2% during the fourth quarter. Alberta Investment Management Corp now owns 858,680 shares of the company’s stock valued at $23,382,000 after purchasing an additional 100,000 shares in the last quarter. Yaupon Capital Management LP grew its stake in shares of Tamboran Resources by 10.7% during the 4th quarter. Yaupon Capital Management LP now owns 515,544 shares of the company’s stock valued at $14,038,000 after acquiring an additional 50,000 shares during the period. Zimmer Partners LP purchased a new stake in Tamboran Resources in the 4th quarter worth approximately $3,914,000. Readystate Asset Management LP purchased a new stake in Tamboran Resources in the 4th quarter worth approximately $433,000. Finally, Millennium Management LLC bought a new stake in Tamboran Resources during the 4th quarter worth approximately $1,019,000.

About Tamboran Resources

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.