Tamboran Resources (NYSE:TBN) Cut to "Strong Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Tamboran Resources from “sell” to “strong sell,” though analyst sentiment overall remains “Moderate Buy,” with an average price target of $60.80.
• Tamboran reported a quarterly loss of $0.35 per share, better than the $6.02 loss analysts expected, but revenue of $2.0 million fell short of the $5.8 million consensus.
• Analyst opinions are mixed: Scotiabank initiated coverage with an “outperform” rating and a $70 price target, while Weiss Ratings reiterated “sell” and Zacks upgraded the stock to “hold.”

Tamboran Resources (NYSE:TBN - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday, Wall Street Zen reports.

TBN has been the topic of several other research reports. Zacks Research upgraded Tamboran Resources from a "strong sell" rating to a "hold" rating in a research report on Monday, September 21st. Scotiabank initiated coverage on Tamboran Resources in a research report on Wednesday, October 14th. They issued an "outperform" rating and a $70.00 price target for the company. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Tamboran Resources currently has a consensus rating of "Moderate Buy" and an average price target of $60.80.

Tamboran Resources Trading Up 2.0%

NYSE:TBN opened at $29.33 on Friday. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average is $33.37 and its 200 day moving average is $33.89. Tamboran Resources has a 12 month low of $22.33 and a 12 month high of $52.21.

Tamboran Resources (NYSE:TBN - Get Free Report) last announced its quarterly earnings results on Thursday, November 12th. The company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($6.02) by $5.67. The business had revenue of $2.00 million for the quarter, compared to analysts' expectations of $5.80 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. Equities research analysts expect that Tamboran Resources will post -0.50 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tamboran Resources

Institutional investors have recently made changes to their positions in the stock. Alberta Investment Management Corp bought a new position in Tamboran Resources during the second quarter valued at approximately $27,916,000. Ingalls & Snyder LLC raised its stake in shares of Tamboran Resources by 13.4% during the third quarter. Ingalls & Snyder LLC now owns 572,246 shares of the company's stock worth $18,861,000 after acquiring an additional 67,749 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Tamboran Resources by 860.9% during the second quarter. HighTower Advisors LLC now owns 456,751 shares of the company's stock worth $14,849,000 after acquiring an additional 409,218 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Tamboran Resources by 113.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 237,748 shares of the company's stock worth $11,885,000 after acquiring an additional 126,549 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Tamboran Resources in the 3rd quarter worth approximately $10,482,000.

About Tamboran Resources

Tamboran Resources Limited is an independent natural gas company focused on exploring and developing unconventional gas resources in Australia's Beetaloo Basin in the Northern Territory. Its activities include drilling and evaluating wells to assess the basin's shale gas potential. The company's work is centered on the Beetaloo Basin, where it holds interests in exploration and appraisal acreage. Tamboran is working to advance potential gas resources toward development, with the aim of supplying Australian domestic markets and, subject to development and market conditions, supporting future gas exports.

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