Tamboran Resources (NYSE:TBN) Earns Outperform Rating from Analysts at Northland Securities

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

Tamboran Resources Stock Performance

TBN stock traded up $0.68 during midday trading on Wednesday, reaching $20.39. 27,114 shares of the company's stock traded hands, compared to its average volume of 32,751. The company has a 50-day simple moving average of $21.65 and a two-hundred day simple moving average of $21.47. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.02. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50.

Tamboran Resources (NYSE:TBN - Get Free Report) last released 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). As a group, research analysts predict that Tamboran Resources will post -1.86 EPS for the current fiscal year.

Institutional Investors Weigh In On Tamboran Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE increased its position in Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company's stock worth $31,000 after purchasing an additional 600 shares during the period. Ingalls & Snyder LLC grew its position in shares of Tamboran Resources by 13.0% during the 4th quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company's stock worth $1,502,000 after buying an additional 8,205 shares during the period. Nuveen Asset Management LLC lifted its holdings in Tamboran Resources by 1.5% in 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 boosted its position in shares of Tamboran Resources by 126.4% in the 4th quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock worth $6,623,000 after purchasing an additional 176,189 shares during the last quarter. Finally, HITE Hedge Asset Management LLC boosted its holdings in Tamboran Resources by 4.5% during the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock worth $10,735,000 after buying an additional 22,004 shares during the last quarter.

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.