Northland Capmk Upgrades Tamboran Resources (NYSE:TBN) to "Strong-Buy"

Northland Capmk upgraded shares of Tamboran Resources (NYSE:TBN - Free Report) to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

Separately, Northland Securities started coverage on Tamboran Resources in a report on Wednesday. They issued an "outperform" rating and a $36.00 target price for the company. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tamboran Resources currently has an average rating of "Buy" and an average target price of $36.50.

Tamboran Resources Stock Up 0.1%

TBN stock traded up $0.01 during mid-day trading on Wednesday, reaching $20.01. The company's stock had a trading volume of 12,328 shares, compared to its average volume of 32,663. The business's 50 day moving average price is $21.57 and its 200 day moving average price is $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 12 month low of $15.75 and a 12 month high of $34.50.

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). Research analysts expect that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE boosted its position 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 buying an additional 600 shares during the last quarter. Ingalls & Snyder LLC boosted its position in shares of Tamboran Resources by 13.0% during the fourth quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company's stock valued at $1,502,000 after buying an additional 8,205 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of 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 last quarter. Yaupon Capital Management LP boosted its position in shares of 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 buying an additional 176,189 shares during the last quarter. Finally, HITE Hedge Asset Management LLC boosted its position in shares of Tamboran Resources by 4.5% during 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 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.