Tamboran Resources (NYSE:TBN) Shares Gap Up - Time to Buy?

Key Points

• Stock action: Shares of Tamboran Resources gapped up pre-market, opening at $37.92 after a $35.39 close, though they last traded around $35.96 on volume of about 43,862 shares.
• Analyst sentiment: Several firms upgraded or raised targets — RBC to "outperform" ($55), Piper Sandler to $74, Wells Fargo to $58 — leaving a MarketBeat consensus target of $55.75 and an average "Moderate Buy" rating.
• Insiders & fundamentals: Two directors recently bought shares (insiders own ~4.5%), while the company has a market cap of roughly $814M, a negative trailing P/E (~-18.8), reported -$0.33 EPS last quarter, and analysts forecast around -$1.42 for the fiscal year.

Tamboran Resources Corporation (NYSE:TBN - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $35.39, but opened at $37.92. Tamboran Resources shares last traded at $35.9590, with a volume of 43,862 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on TBN shares. Royal Bank Of Canada raised Tamboran Resources from a "sector perform" rating to an "outperform" rating and set a $55.00 price target for the company in a report on Wednesday. Piper Sandler reissued an "overweight" rating and set a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a report on Tuesday, March 31st. Weiss Ratings reissued a "sell (d)" rating on shares of Tamboran Resources in a report on Wednesday, April 8th. Finally, Wells Fargo & Company boosted their price target on Tamboran Resources from $35.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Tamboran Resources presently has an average rating of "Moderate Buy" and a consensus target price of $55.75.

Tamboran Resources Stock Performance

The stock has a market cap of $814.08 million, a P/E ratio of -18.80 and a beta of -1.60. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $34.71 and a two-hundred day moving average price of $29.04.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.33) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.33). On average, sell-side analysts forecast that Tamboran Resources Corporation will post -1.42 earnings per share for the current fiscal year.

Insider Transactions at Tamboran Resources

In other Tamboran Resources news, Director Scott D. Sheffield acquired 6,990 shares of the company's stock in a transaction dated Wednesday, April 8th. The stock was purchased at an average price of $36.02 per share, with a total value of $251,779.80. Following the completion of the purchase, the director directly owned 292,430 shares in the company, valued at approximately $10,533,328.60. The trade was a 2.45% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phillip Z. Pace acquired 10,000 shares of the company's stock in a transaction dated Monday, April 13th. The stock was acquired at an average cost of $36.99 per share, with a total value of $369,900.00. Following the purchase, the director owned 35,809 shares of the company's stock, valued at approximately $1,324,574.91. This trade represents a 38.75% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 4.50% of the company's stock.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds have recently made changes to their positions in TBN. Bank of America Corp DE lifted its position in shares of 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 buying an additional 600 shares in the last quarter. State of Wyoming purchased a new stake in shares of Tamboran Resources in the second quarter worth about $99,000. Walleye Capital LLC purchased a new stake in shares of Tamboran Resources in the fourth quarter worth about $204,000. Janney Montgomery Scott LLC purchased a new stake in shares of Tamboran Resources in the first quarter worth about $240,000. Finally, XY Capital Ltd purchased a new stake in shares of Tamboran Resources in the fourth quarter worth about $253,000.

Tamboran Resources Company Profile

Tamboran Resources is an independent energy company focused on the exploration and development of unconventional natural gas resources. Headquartered in Canada and listed on the New York Stock Exchange under the ticker TBN, the company concentrates its activities on onshore basins in Australia. Tamboran's primary objective is to advance its exploration acreage toward commercial viability by leveraging modern drilling and reservoir evaluation techniques.

The company holds exploration licenses in the Beetaloo Basin in the Northern Territory of Australia, where it is conducting appraisal drilling programs to define reservoir characteristics and recoverability.

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