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

Shares of Tamboran Resources Corporation (NYSE:TBN) have been assigned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $58.50.

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

Tamboran Resources Price Performance

NYSE:TBN opened at $39.96 on Friday. Tamboran Resources has a 52 week low of $17.29 and a 52 week high of $52.21. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -21.37 and a beta of -2.20. 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 debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). As a group, sell-side analysts predict that Tamboran Resources will post -1.42 earnings per share for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TBN. Bank of America Corp DE raised its stake in Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock worth $31,000 after acquiring an additional 600 shares in the last quarter. Whitebox Advisors LLC acquired a new position in Tamboran Resources during the second quarter worth about $1,194,000. State of Wyoming acquired a new position in Tamboran Resources during the second quarter worth about $99,000. Ingalls & Snyder LLC raised its stake in Tamboran Resources by 124.1% during the third quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock worth $7,079,000 after acquiring an additional 143,194 shares in the last quarter. Finally, Arbiter Partners Capital Management LLC acquired a new position in Tamboran Resources during the third quarter worth about $1,356,000.

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.