Tamboran Resources (NYSE:TBN) Trading Down 4.2% – Here’s Why

Shares of Tamboran Resources Corporation (NYSE:TBN) were down 4.2% during trading on Monday . The stock traded as low as $29.84 and last traded at $30.5810. Approximately 18,481 shares changed hands during trading, a decline of 70% from the average daily volume of 60,720 shares. The stock had previously closed at $31.92.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, January 9th. Wells Fargo & Company initiated coverage on shares of Tamboran Resources in a report on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 price target 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.33.

Tamboran Resources Trading Down 2.2%

The business has a 50 day moving average of $29.29 and a two-hundred day moving average of $26.39. The firm has a market capitalization of $706.93 million, a price-to-earnings ratio of -16.35 and a beta of 0.13. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.01 and a current ratio of 2.01.

Tamboran Resources (NYSE:TBN) last announced its quarterly earnings data on Wednesday, February 11th. The company reported ($0.33) EPS for the quarter, meeting analysts’ consensus estimates of ($0.33). Equities analysts predict that Tamboran Resources Corporation will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TBN. Bank of America Corp DE grew its holdings in shares of Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after buying an additional 600 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in shares of Tamboran Resources in the 3rd quarter worth about $27,000. State of Wyoming bought a new position in Tamboran Resources in the 2nd quarter valued at about $99,000. Walleye Capital LLC bought a new position in Tamboran Resources in the 4th quarter valued at about $204,000. Finally, Arbiter Partners Capital Management LLC lifted its position in Tamboran Resources by 15.5% in the 4th 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 in the last quarter.

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.