Tamboran Resources Corporation (NYSE:TBN) Receives Average Rating of “Moderate Buy” from Analysts

Tamboran Resources Corporation (NYSE:TBN) has been assigned a consensus rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $58.50.

Several research analysts recently issued reports on TBN shares. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $55.00 in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their price objective on Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, March 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Wednesday, April 8th. Piper Sandler reissued an “overweight” rating and set a $74.00 price objective (up from $41.00) on shares of Tamboran Resources in a report on Tuesday, March 31st. Finally, Roth Mkm began coverage on Tamboran Resources in a report on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective for the company.

Tamboran Resources Stock Up 18.7%

Shares of NYSE TBN opened at $39.96 on Friday. The firm’s 50-day simple moving average is $36.14 and its 200 day simple moving average is $31.25. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -21.37 and a beta of -2.20. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. Tamboran Resources has a 12-month low of $17.29 and a 12-month high of $52.21.

Tamboran Resources (NYSE:TBN) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.06). On average, research analysts expect that Tamboran Resources will post -1.42 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Scott D. Sheffield acquired 6,990 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was purchased at an average cost of $36.02 per share, with a total value of $251,779.80. Following the acquisition, the director owned 292,430 shares of the company’s stock, valued at $10,533,328.60. This trade represents a 2.45% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip Z. Pace acquired 10,000 shares of the company’s stock in a transaction on Monday, April 13th. The shares were purchased at an average cost of $36.99 per share, with a total value of $369,900.00. Following the completion of the acquisition, the director directly owned 35,809 shares in the company, valued at approximately $1,324,574.91. The trade was a 38.75% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 4.50% of the company’s stock.

Institutional Trading of Tamboran Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC increased its stake in shares of Tamboran Resources by 6.4% in the 1st quarter. Walleye Capital LLC now owns 7,983 shares of the company’s stock valued at $399,000 after acquiring an additional 482 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Tamboran Resources by 66.7% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after acquiring an additional 600 shares during the last quarter. State of Wyoming bought a new stake in shares of Tamboran Resources in the 2nd quarter valued at about $99,000. Janney Montgomery Scott LLC bought a new stake in shares of Tamboran Resources in the 1st quarter valued at about $240,000. Finally, Arbiter Partners Capital Management LLC increased its stake in shares of 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 during the last quarter.

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.