Tamboran Resources Corporation (NYSE:TBN) Given Consensus Recommendation of "Buy" by Analysts

Shares of Tamboran Resources Corporation (NYSE:TBN - Get Free Report) have been given a consensus recommendation of "Buy" by the seven research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $36.33.

Several equities analysts have recently weighed in on the company. Northland Securities assumed coverage on Tamboran Resources in a research note on Wednesday, May 28th. They set an "outperform" rating and a $36.00 price objective on the stock. Royal Bank Of Canada decreased their price target on Tamboran Resources from $31.00 to $30.00 and set a "sector perform" rating on the stock in a research report on Wednesday, July 9th. Finally, Northland Capmk upgraded shares of Tamboran Resources to a "strong-buy" rating in a research report on Wednesday, May 28th.

Institutional Trading of Tamboran Resources

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Tamboran Resources by 66.7% during the 4th 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 period. Nuveen Asset Management LLC lifted 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 purchasing an additional 4,410 shares during the last quarter. Yaupon Capital Management LP boosted its stake in shares of Tamboran Resources by 126.4% during the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock valued at $6,623,000 after purchasing an additional 176,189 shares during the period. Finally, HITE Hedge Asset Management LLC grew its holdings in shares of Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock worth $10,735,000 after purchasing an additional 22,004 shares during the last quarter.

Tamboran Resources Stock Performance

Shares of TBN traded down $0.05 during mid-day trading on Friday, hitting $19.30. The stock had a trading volume of 27,806 shares, compared to its average volume of 28,802. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $34.50. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.10 and a current ratio of 1.10. The business has a fifty day moving average price of $20.83 and a 200-day moving average price of $22.29.

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). As a group, analysts anticipate that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

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.