Tamboran Resources Corporation (NYSE:TBN) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Tamboran Resources has a consensus “Hold” rating among six analysts, with two sell ratings and four buy ratings. The average 12-month price target is $58.50.
• Recent analyst sentiment has weakened, with Zacks Research downgrading the stock to “strong sell” and Weiss Ratings maintaining a sell rating.
• TBN opened at $36.65, compared with a 1-year range of $19.55 to $52.21, while several hedge funds and institutions recently initiated or increased positions.

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) has been assigned a consensus recommendation of "Hold" from the six research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $58.50.

A number of research analysts have recently weighed in on TBN shares. Zacks Research cut Tamboran Resources from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 29th. Weiss Ratings restated a "sell (d)" rating on shares of Tamboran Resources in a report on Monday, July 6th.

Tamboran Resources Stock Performance

NYSE TBN opened at $36.65 on Tuesday. Tamboran Resources has a 1-year low of $19.55 and a 1-year high of $52.21. The company has a market capitalization of $1.04 billion, a P/E ratio of -19.60 and a beta of -2.03. The business has a 50 day moving average price of $36.02 and a 200 day moving average price of $35.29. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Walleye Capital LLC lifted its holdings in Tamboran Resources by 6.4% in the 1st quarter. Walleye Capital LLC now owns 7,983 shares of the company's stock valued at $399,000 after purchasing an additional 482 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Tamboran Resources in the second quarter valued at approximately $39,000. Deutsche Bank AG purchased a new position in shares of Tamboran Resources during the second quarter valued at approximately $42,000. Avalon Trust Co purchased a new position in shares of Tamboran Resources during the second quarter valued at approximately $44,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Tamboran Resources during the first quarter worth approximately $240,000.

About Tamboran Resources

Tamboran Resources Corporation NYSE: TBN is an Australia-focused natural gas exploration and development company. The company's primary asset base is located in the Beetaloo Basin in Australia's Northern Territory, where it is pursuing the development of large-scale shale gas resources.

Tamboran's activities include acquiring and evaluating exploration acreage, drilling and testing wells, and advancing infrastructure and commercial development plans for natural gas production. Its Beetaloo Basin portfolio includes the Shenandoah South and Amungee projects, which are intended to support future domestic gas supply and potential liquefied natural gas export opportunities.

The company was established to develop unconventional gas resources in Australia and has focused its operations on the Northern Territory rather than maintaining a broad international footprint.

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