Royal Bank Of Canada Lowers Tamboran Resources (NYSE:TBN) Price Target to $30.00

Tamboran Resources (NYSE:TBN - Get Free Report) had its target price lowered by Royal Bank Of Canada from $31.00 to $30.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 57.12% from the stock's current price.

A number of other research firms have also recently issued reports on TBN. Northland Capmk upgraded shares of Tamboran Resources to a "strong-buy" rating in a report on Wednesday, May 28th. Northland Securities assumed coverage on shares of Tamboran Resources in a research report on Wednesday, May 28th. They issued an "outperform" rating and a $36.00 price target for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $36.33.

Tamboran Resources Stock Performance

TBN stock traded down $0.17 during mid-day trading on Wednesday, reaching $19.09. 2,892 shares of the stock traded hands, compared to its average volume of 28,904. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.04. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $34.50. The business has a 50-day moving average of $20.85 and a two-hundred day moving average of $22.28.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09). On average, research analysts predict that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its stake in Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock valued at $31,000 after acquiring an additional 600 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Tamboran Resources by 1.5% in the fourth quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company's stock valued at $6,390,000 after buying an additional 4,410 shares in the last quarter. Yaupon Capital Management LP boosted its position in Tamboran Resources by 126.4% in the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock valued at $6,623,000 after buying an additional 176,189 shares in the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock valued at $10,735,000 after buying an additional 22,004 shares in the last quarter.

Tamboran Resources Company Profile

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.