Tamboran Resources (NYSE:TBN) Upgraded by Northland Capmk to Strong-Buy Rating

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

Separately, Northland Securities began coverage on Tamboran Resources in a research note on Wednesday, May 28th. They set an "outperform" rating and a $36.00 price objective on the stock. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tamboran Resources presently has a consensus rating of "Buy" and a consensus price target of $36.50.

Tamboran Resources Stock Performance

Shares of NYSE TBN traded up $0.65 during trading on Wednesday, reaching $20.50. The company had a trading volume of 15,277 shares, compared to its average volume of 32,693. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50. The stock has a 50-day moving average price of $21.51 and a two-hundred day moving average price of $21.52. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77.

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

Hedge Funds Weigh In On Tamboran Resources

Hedge funds have recently modified their holdings of the stock. HITE Hedge Asset Management LLC raised its holdings 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 buying an additional 298,084 shares in the last quarter. Yaupon Capital Management LP raised its holdings 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 buying an additional 176,189 shares in the last quarter. Nuveen Asset Management LLC raised its holdings 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 in the last quarter. Ingalls & Snyder LLC raised its holdings in 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 in the last quarter. Finally, Bank of America Corp DE raised its holdings in 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 in 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.