Tamboran Resources Corporation (NYSE:TBN) Receives Consensus Rating of "Buy" from Analysts

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.

Shares of Tamboran Resources Corporation (NYSE:TBN - Get Free Report) have been given a consensus recommendation of "Buy" by the five brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $34.75.

A number of brokerages recently issued reports on TBN. Northland Capmk upgraded Tamboran Resources to a "strong-buy" rating in a research note on Wednesday, May 28th. Northland Securities initiated coverage on Tamboran Resources in a research note on Wednesday, May 28th. They issued an "outperform" rating and a $36.00 price objective for the company. Finally, Royal Bank Of Canada decreased their target price on Tamboran Resources from $31.00 to $30.00 and set a "sector perform" rating for the company in a report on Wednesday, July 9th.

Insiders Place Their Bets

In related news, major shareholder Bryan Sheffield acquired 563,697 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was acquired at an average price of $17.74 per share, with a total value of $9,999,984.78. Following the acquisition, the insider directly owned 3,123,601 shares in the company, valued at $55,412,681.74. This represents a 22.02% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings 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 purchasing an additional 600 shares in the last quarter. Ingalls & Snyder LLC boosted its holdings in Tamboran Resources by 36.2% during the second quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company's stock worth $2,459,000 after buying an additional 30,650 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 buying an additional 4,410 shares during the period. Yaupon Capital Management LP increased its holdings in Tamboran Resources by 126.4% in the fourth 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 boosted its stake 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 worth $10,735,000 after acquiring an additional 22,004 shares in the last quarter.

Tamboran Resources Price Performance

TBN stock opened at $20.51 on Thursday. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $34.50. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $20.68 and a 200 day moving average of $22.14.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09). Equities analysts predict that Tamboran Resources will post -1.86 EPS for the current fiscal year.

About Tamboran Resources

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.

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