Tamboran Resources Corporation (NYSE:TBN) Receives Average Rating of "Buy" from Brokerages

Shares of Tamboran Resources Corporation (NYSE:TBN - Get Free Report) have earned a consensus rating of "Buy" from the seven research firms that are covering the company, Marketbeat.com reports. One 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 1 year price target among analysts that have issued ratings on the stock in the last year is $36.50.

A number of analysts recently weighed in on TBN shares. Northland Securities started coverage on 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 raised Tamboran Resources to a "strong-buy" rating in a report on Wednesday, May 28th.

Hedge Funds Weigh In On Tamboran Resources

A number of institutional investors have recently made changes to their positions in TBN. HITE Hedge Asset Management LLC grew its position 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 valued at $10,735,000 after purchasing an additional 22,004 shares during the period. Yaupon Capital Management LP grew its position in 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 acquiring an additional 176,189 shares during the period. Nuveen Asset Management LLC grew its position in Tamboran Resources by 1.5% during the fourth quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company's stock valued at $6,390,000 after acquiring an additional 4,410 shares during the period. Finally, Bank of America Corp DE grew its position 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 valued at $31,000 after acquiring an additional 600 shares during the period.

Tamboran Resources Stock Down 1.8%

Shares of TBN stock opened at $22.55 on Wednesday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.04. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50. The business's 50 day moving average is $21.19 and its two-hundred day moving average is $21.80.

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 for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09). Sell-side analysts expect that Tamboran Resources will post -1.86 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.