Tamboran Resources (NYSE:TBN) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Tamboran Resources from “strong sell” to “sell,” while analyst sentiment overall remains “Moderate Buy,” with five Buy ratings, one Hold, and one Sell.
• Analysts’ average price target is $60.80, including Scotiabank’s $70 target and “outperform” rating. TBN opened at $31.30, within a 52-week range of $22.33 to $52.21.
• Institutional interest has increased, highlighted by HighTower Advisors’ 860.9% stake increase and Readystate Asset Management’s 231.9% increase during the second quarter.

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

TBN has been the subject of a number of other research reports. Zacks Research raised Tamboran Resources from a "strong sell" rating to a "hold" rating in a research note on Monday, September 21st. Scotiabank started coverage on shares of Tamboran Resources in a research report on Wednesday. They issued an "outperform" rating and a $70.00 target price for the company. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Tamboran Resources in a research report 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. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $60.80.

Tamboran Resources Price Performance

Shares of TBN opened at $31.30 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. Tamboran Resources has a 1-year low of $22.33 and a 1-year high of $52.21. The firm's 50 day simple moving average is $36.56 and its 200 day simple moving average is $35.59.

Institutional Trading of Tamboran Resources

Several institutional investors have recently added to or reduced their stakes in the stock. GK Wealth Management LLC acquired a new position in Tamboran Resources during the 3rd quarter worth about $41,000. Engineers Gate Manager LP purchased a new stake in Tamboran Resources during the 2nd quarter worth approximately $242,000. HighTower Advisors LLC increased its position 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 during the period. Readystate Asset Management LP increased its position in shares of Tamboran Resources by 231.9% during the second quarter. Readystate Asset Management LP now owns 44,147 shares of the company's stock worth $1,435,000 after acquiring an additional 30,846 shares during the period. Finally, Susquehanna International Group LLP acquired a new stake in shares of Tamboran Resources in the second quarter valued at $803,000.

Tamboran Resources Company Profile

Tamboran Resources is an Australian natural gas exploration and development company focused on the Beetaloo Basin in the Northern Territory. The company is developing large-scale onshore natural gas resources, with an emphasis on producing lower-carbon-intensity gas for Australian energy markets.

Tamboran's activities include exploration, appraisal drilling, resource development and the planning of production infrastructure. Its principal project area includes the Shenandoah South development in the Beetaloo Basin, where the company is working to establish a long-term supply of natural gas for domestic use and potential liquefied natural gas export markets.

Tamboran Resources is headquartered in Australia and has been led by Chief Executive Officer Joel Riddle.

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