Tamboran Resources (NYSE:TBN) Given New $30.00 Price Target at Royal Bank Of Canada

Tamboran Resources (NYSE:TBN - Get Free Report) had its price target lowered by stock analysts at Royal Bank Of Canada from $31.00 to $30.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 63.84% from the company's previous close.

A number of other equities analysts also recently commented on TBN. Northland Capmk raised 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 report on Wednesday, May 28th. They set an "outperform" rating and a $36.00 price target for the company. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $36.33.

Tamboran Resources Price Performance

NYSE:TBN traded up $0.15 during midday trading on Wednesday, reaching $18.31. The stock had a trading volume of 10,246 shares, compared to its average volume of 29,197. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50. The firm's fifty day simple moving average is $20.94 and its 200-day simple moving average is $22.26. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.10 and a current ratio of 1.10.

Tamboran Resources (NYSE:TBN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, research analysts anticipate that Tamboran Resources will post -1.86 earnings per share for the current year.

Institutional Investors Weigh In On Tamboran Resources

Several institutional investors have recently modified their holdings of the business. HITE Hedge Asset Management LLC grew its holdings in Tamboran Resources by 58.3% during the first quarter. HITE Hedge Asset Management LLC now owns 809,505 shares of the company's stock valued at $19,420,000 after purchasing an additional 298,084 shares during the period. Yaupon Capital Management LP increased its position in shares of Tamboran Resources by 126.4% in the 4th 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. Nuveen Asset Management LLC raised its stake in Tamboran Resources by 1.5% during the 4th quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company's stock worth $6,390,000 after buying an additional 4,410 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $31,000 after acquiring an additional 600 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.