Tamboran Resources (NYSE:TBN) Stock Price Down 5.9% – What’s Next?

Tamboran Resources Corporation (NYSE:TBN)’s share price fell 5.9% on Monday . The company traded as low as $37.56 and last traded at $37.9750. 78,776 shares traded hands during trading, a decline of 48% from the average session volume of 152,837 shares. The stock had previously closed at $40.37.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Tamboran Resources from $35.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, March 30th. Royal Bank Of Canada raised shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $38.00 to $55.00 in a research report on Wednesday, April 29th. Piper Sandler restated an “overweight” rating and issued a $74.00 price objective (up from $41.00) on shares of Tamboran Resources in a report on Tuesday, March 31st. Roth Mkm assumed coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Tamboran Resources presently has an average rating of “Moderate Buy” and an average price target of $58.50.

Tamboran Resources Trading Down 1.2%

The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average price is $35.84 and its 200 day moving average price is $31.50. The stock has a market cap of $1.02 billion, a P/E ratio of -19.24 and a beta of -2.20.

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 analysts’ consensus estimates of ($0.36) by ($0.06). Equities research analysts expect that Tamboran Resources Corporation will post -1.42 earnings per share for the current year.

Insider Activity at Tamboran Resources

In related news, Director Scott D. Sheffield acquired 6,990 shares of the stock in a transaction on Wednesday, April 8th. The stock was acquired at an average price of $36.02 per share, for a total transaction of $251,779.80. Following the completion of the purchase, the director owned 292,430 shares of the company’s stock, valued at $10,533,328.60. This represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip Z. Pace acquired 10,000 shares of the stock in a transaction on Monday, April 13th. The shares were bought at an average price of $36.99 per share, with a total value of $369,900.00. Following the purchase, the director directly owned 35,809 shares of the company’s stock, valued at $1,324,574.91. The trade was a 38.75% increase in their position. The disclosure for this purchase is available in the SEC filing. 4.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TBN. Bank of America Corp DE lifted its stake in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after buying an additional 600 shares in the last quarter. State of Wyoming bought a new position in Tamboran Resources in the 2nd quarter valued at approximately $99,000. Janney Montgomery Scott LLC bought a new position in Tamboran Resources in the 1st quarter valued at approximately $240,000. Walleye Capital LLC purchased a new stake in Tamboran Resources during the 4th quarter valued at $204,000. Finally, XY Capital Ltd bought a new stake in shares of Tamboran Resources in the 4th quarter worth $253,000.

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.