Tamboran Resources Corp (NYSE:TBN) Receives $36.60 Consensus PT from Brokerages

Shares of Tamboran Resources Corp (NYSE:TBN - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $36.50.

Separately, Northland Securities began coverage on shares of Tamboran Resources in a research note on Wednesday. They issued an "outperform" rating and a $36.00 price objective on the stock.

Institutional Trading of Tamboran Resources

A number of hedge funds and other institutional investors have recently modified their holdings of TBN. Ingalls & Snyder LLC grew its stake in shares of Tamboran Resources by 13.0% in the fourth quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company's stock worth $1,502,000 after purchasing an additional 8,205 shares during the last quarter. HITE Hedge Asset Management LLC lifted its holdings 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 during the period. Yaupon Capital Management LP lifted its holdings 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 during the period. Bank of America Corp DE lifted its holdings 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 buying an additional 600 shares during the period. Finally, Nuveen Asset Management LLC lifted its holdings 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 during the period.

Tamboran Resources Stock Up 3.4%

NYSE:TBN traded up $0.68 during mid-day trading on Friday, reaching $20.39. The stock had a trading volume of 27,114 shares, compared to its average volume of 32,751. The stock has a 50-day simple moving average of $21.65 and a two-hundred day simple moving average of $21.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77. Tamboran Resources has a 12 month low of $15.75 and a 12 month high of $34.50.

Tamboran Resources (NYSE:TBN - Get Free Report) last announced its quarterly earnings data 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 anticipate that Tamboran Resources will post -1.86 EPS for the current year.

About Tamboran Resources

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.