Tamboran Resources Corporation (NYSE:TBN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Tamboran Resources Corporation (NYSE:TBN) have earned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $51.50.

TBN has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, January 9th. Piper Sandler reaffirmed an “overweight” rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. Finally, Wells Fargo & Company lifted their price target on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, March 30th.

Institutional Investors Weigh In On Tamboran Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TBN. HITE Hedge Asset Management LLC increased its stake in Tamboran Resources by 44.0% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock worth $47,575,000 after buying an additional 530,850 shares during the period. UBS Group AG increased its stake in Tamboran Resources by 170.9% during the 3rd quarter. UBS Group AG now owns 278,938 shares of the company’s stock worth $7,637,000 after buying an additional 175,973 shares during the period. Encompass Capital Advisors LLC increased its stake in Tamboran Resources by 26.6% during the 4th quarter. Encompass Capital Advisors LLC now owns 713,698 shares of the company’s stock worth $19,434,000 after buying an additional 150,000 shares during the period. Zimmer Partners LP purchased a new stake in Tamboran Resources during the 4th quarter worth $3,914,000. Finally, Ingalls & Snyder LLC increased its stake in Tamboran Resources by 124.1% during the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after buying an additional 143,194 shares during the period.

Tamboran Resources Stock Performance

Shares of TBN stock opened at $42.74 on Tuesday. The company’s fifty day simple moving average is $32.16 and its 200-day simple moving average is $27.81. Tamboran Resources has a 52 week low of $17.29 and a 52 week high of $52.21. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09. The company has a market cap of $967.57 million, a PE ratio of -22.38 and a beta of -1.60.

Tamboran Resources (NYSE:TBN) last issued its earnings results on Thursday, February 12th. The company reported ($0.33) EPS for the quarter, meeting analysts’ consensus estimates of ($0.33). As a group, equities research analysts anticipate that Tamboran Resources will post -1.86 EPS for the current year.

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.