Tamboran Resources (NYSE:TBN) Posts Quarterly Earnings Results, Beats Expectations By $25.59 EPS

Tamboran Resources (NYSE:TBN) posted its quarterly earnings data on Friday. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($25.54) by $25.59, FiscalAI reports.

Tamboran Resources Price Performance

Shares of NYSE:TBN opened at $36.16 on Friday. The stock has a market cap of $1.02 billion, a PE ratio of -19.34 and a beta of -2.03. The company’s fifty day moving average is $36.27 and its 200 day moving average is $35.40. Tamboran Resources has a 52 week low of $19.55 and a 52 week high of $52.21. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10.

Wall Street Analysts Forecast Growth

TBN has been the topic of a number of research analyst reports. Weiss Ratings reissued 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 report on Monday. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.