Tamboran Resources Corporation (NYSE:TBN) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Tamboran Resources has a consensus “Hold” rating from six brokerages: four recommend buying the stock, while two rate it a sell. The average 12-month price target is $58.50, above the reported share price of $37.76.
• TBN shares recently traded up 2.2%, with the stock ranging between $19.55 and $52.21 over the past year. The company has a $1.07 billion market capitalization and maintains relatively strong liquidity, with quick and current ratios of 2.00.
• Institutional interest has increased, with California State Teachers’ Retirement System and Alberta Investment Management each establishing sizable new positions, while HighTower Advisors significantly expanded its stake.

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) has earned an average recommendation of "Hold" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $58.50.

Several equities analysts have commented on TBN shares. Roth Capital began coverage on shares of Tamboran Resources in a research report on Thursday, May 21st. They issued a "buy" rating and a $47.00 price target for the company. Zacks Research cut Tamboran Resources from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Tamboran Resources in a report on Monday, July 6th.

Tamboran Resources Trading Up 2.2%

Shares of TBN stock opened at $37.76 on Friday. Tamboran Resources has a fifty-two week low of $19.55 and a fifty-two week high of $52.21. The company has a 50 day moving average price of $33.81 and a 200 day moving average price of $34.24. The stock has a market capitalization of $1.07 billion, a P/E ratio of -20.19 and a beta of -2.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00.

Hedge Funds Weigh In On Tamboran Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System purchased a new stake in shares of Tamboran Resources during the second quarter worth approximately $28,890,000. Alberta Investment Management Corp acquired a new stake in shares of Tamboran Resources in the 2nd quarter valued at $27,916,000. HighTower Advisors LLC lifted its position in shares of Tamboran Resources by 860.9% during the 2nd quarter. HighTower Advisors LLC now owns 456,751 shares of the company's stock worth $14,849,000 after purchasing an additional 409,218 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of Tamboran Resources by 17.2% during the fourth quarter. HITE Hedge Asset Management LLC now owns 2,036,603 shares of the company's stock worth $55,457,000 after purchasing an additional 299,028 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Tamboran Resources in the second quarter valued at $8,818,000.

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.

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