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

Shares of Tamboran Resources Corporation (NYSE:TBN - Get Free Report) have received an average recommendation of "Buy" from the seven ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $36.50.

Several analysts have commented on TBN shares. Northland Securities started coverage on shares of Tamboran Resources in a research note on Wednesday, May 28th. They issued an "outperform" rating and a $36.00 price target on the stock. Northland Capmk upgraded shares of Tamboran Resources to a "strong-buy" rating in a research note on Wednesday, May 28th.

Tamboran Resources Price Performance

NYSE TBN traded up $0.42 on Wednesday, reaching $23.37. The company had a trading volume of 15,755 shares, compared to its average volume of 32,820. Tamboran Resources has a 12 month low of $15.75 and a 12 month 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 firm's 50 day moving average price is $21.24 and its 200 day moving average price is $21.92.

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

Institutional Trading of Tamboran Resources

Hedge funds have recently made changes to their positions in the business. Bank of America Corp DE raised its position in shares of 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 buying an additional 600 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Tamboran Resources by 1.5% during the 4th 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 raised its position in shares of Tamboran Resources by 126.4% during 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. Finally, HITE Hedge Asset Management LLC raised its position in shares of Tamboran Resources by 4.5% during the 4th 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.