Tamboran Resources (NYSE:TBN) Now Covered by Northland Securities

Northland Securities started coverage on shares of Tamboran Resources (NYSE:TBN - Free Report) in a report published on Wednesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $36.00 price objective on the stock.

Tamboran Resources Trading Up 0.1%

NYSE TBN traded up $0.01 during midday trading on Wednesday, hitting $20.01. The company had a trading volume of 12,328 shares, compared to its average volume of 32,663. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a 50-day moving average price of $21.57 and a 200-day moving average price of $21.49.

Tamboran Resources (NYSE:TBN - Get Free Report) last issued its 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). On average, analysts expect that Tamboran Resources will post -1.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Tamboran Resources

Several large investors have recently bought and sold shares of the company. HITE Hedge Asset Management LLC increased its stake 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 buying an additional 22,004 shares during the period. Yaupon Capital Management LP grew its holdings 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 acquiring an additional 176,189 shares during the last quarter. Nuveen Asset Management LLC increased its position in Tamboran Resources by 1.5% in the 4th 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. Ingalls & Snyder LLC increased its position in Tamboran Resources by 13.0% in the 4th quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company's stock valued at $1,502,000 after acquiring an additional 8,205 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of 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 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.