Brokerages Set Tamboran Resources Corporation (NYSE:TBN) PT at $36.33

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) has earned an average rating of "Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $36.33.

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

Institutional Trading of Tamboran Resources

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC increased its stake in Tamboran Resources by 4.5% during the 4th 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 in the last quarter. Yaupon Capital Management LP increased its stake in Tamboran Resources by 126.4% during the 4th quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock worth $6,623,000 after purchasing an additional 176,189 shares in the last quarter. Nuveen Asset Management LLC increased 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 purchasing an additional 4,410 shares in the last quarter. Finally, Bank of America Corp DE increased its stake 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 worth $31,000 after purchasing an additional 600 shares in the last quarter.

Tamboran Resources Stock Down 0.9%

Shares of TBN stock traded down $0.17 during trading on Friday, hitting $19.09. 2,892 shares of the company were exchanged, compared to its average volume of 28,904. 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's 50-day simple moving average is $20.85 and its 200 day simple moving average is $22.28. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50.

Tamboran Resources (NYSE:TBN - Get Free Report) last posted its 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, equities analysts forecast that Tamboran Resources will post -1.86 EPS 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.