Free Trial

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

Tamboran Resources logo with Energy background

Key Points

  • Tamboran Resources Corporation has received a consensus rating of "Buy" from five brokerages, with an average 12-month target price of $34.75.
  • Major shareholder Bryan Sheffield purchased 563,697 shares at an average price of $17.74, increasing his stake in the company by 22.02%.
  • Institutional investors have been increasing their holdings in Tamboran Resources, with Bank of America Corp DE boosting its position by 66.7% in the last quarter.
  • Need better tools to track Tamboran Resources? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

Shares of Tamboran Resources Corporation (NYSE:TBN - Get Free Report) have been given a consensus rating of "Buy" by the five brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $34.75.

A number of analysts recently commented on TBN shares. Royal Bank Of Canada dropped their target price on shares of Tamboran Resources from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Wednesday, July 9th. Northland Capmk upgraded shares of Tamboran Resources to a "strong-buy" rating in a report on Wednesday, May 28th. Finally, Northland Securities assumed coverage on shares of Tamboran Resources in a report on Wednesday, May 28th. They issued an "outperform" rating and a $36.00 target price on the stock.

Get Our Latest Stock Report on TBN

Insider Buying and Selling at Tamboran Resources

In other news, major shareholder Bryan Sheffield bought 563,697 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were acquired at an average cost of $17.74 per share, with a total value of $9,999,984.78. Following the completion of the transaction, the insider directly owned 3,123,601 shares in the company, valued at approximately $55,412,681.74. The trade was a 22.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TBN. HITE Hedge Asset Management LLC grew its position in Tamboran Resources by 58.3% during the first quarter. HITE Hedge Asset Management LLC now owns 809,505 shares of the company's stock valued at $19,420,000 after purchasing an additional 298,084 shares in the last quarter. Alberta Investment Management Corp grew its position in Tamboran Resources by 116.8% during the second quarter. Alberta Investment Management Corp now owns 758,680 shares of the company's stock valued at $16,175,000 after purchasing an additional 408,680 shares in the last quarter. 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 purchasing an additional 176,189 shares in the last quarter. 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 purchasing an additional 4,410 shares in the last quarter. Finally, Ingalls & Snyder LLC grew its position in Tamboran Resources by 36.2% during the second quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company's stock valued at $2,459,000 after purchasing an additional 30,650 shares in the last quarter.

Tamboran Resources Stock Performance

Shares of NYSE TBN traded up $0.06 during midday trading on Thursday, reaching $20.51. The company's stock had a trading volume of 16,510 shares, compared to its average volume of 13,806. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.04. The company has a 50 day moving average price of $20.70 and a 200 day moving average price of $22.12. Tamboran Resources has a one year low of $15.75 and a one year high of $34.50.

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

Tamboran Resources Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Tamboran Resources (NYSE:TBN)

Should You Invest $1,000 in Tamboran Resources Right Now?

Before you consider Tamboran Resources, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tamboran Resources wasn't on the list.

While Tamboran Resources currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

7 Stocks to Ride The A.I. Megaboom Cover


We are about to experience the greatest A.I. boom in stock market history...

Thanks to a pivotal economic catalyst, specific tech stocks will skyrocket just like they did during the "dot com" boom in the 1990s.

That’s why, we’ve hand-selected 7 tiny tech disruptor stocks positioned to surge.

  1. The first pick is a tiny under-the-radar A.I. stock that's trading for just $3.00. This company already has 98 registered patents for cutting-edge voice and sound recognition technology... And has lined up major partnerships with some of the biggest names in the auto, tech, and music industry... plus many more.
  2. The second pick presents an affordable avenue to bolster EVs and AI development…. Analysts are calling this stock a “buy” right now and predict a high price target of $19.20, substantially more than its current $6 trading price.
  3. Our final and favorite pick is generating a brand-new kind of AI. It's believed this tech will be bigger than the current well-known leader in this industry… Analysts predict this innovative tech is gearing up to create a tidal wave of new wealth, fueling a $15.7 TRILLION market boom.

Right now, we’re staring down the barrel of a true once-in-a-lifetime moment. As an investment opportunity, this kind of breakthrough doesn't come along every day.

And the window to get in on the ground-floor — maximizing profit potential from this expected market surge — is closing quickly...

Simply enter your email below to get the names and tickers of the 7 small stocks with potential to make investors very, very happy.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Tesla’s Future Unleashed: Elon’s Robotics Move Changes Everything
Top Trades: Massive Gains and Costly Mistakes to Avoid
NVIDIA Earnings: All Signs Point to More Growth Ahead

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines