Tamboran Resources (NYSE:TBN) Stock Price Down 5.3% - Should You Sell?

Key Points

• Shares of Tamboran Resources fell 5.3% to about $35.30 on Tuesday on below‑average volume, though the stock remains above its 50‑day ($33.04) and 200‑day ($28.39) moving averages.
• Analysts are mixed but leaning positive: the consensus rating is “Moderate Buy” with an average price target of $51.50, and recent upgrades include Wells Fargo raising its target to $58 and Piper Sandler to $74.
• Insider activity: Director Scott D. Sheffield bought 6,990 shares at about $36.02, boosting his holdings to 292,430 shares; insiders now own roughly 4.5% of the company.

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) fell 5.3% on Tuesday . The company traded as low as $35.00 and last traded at $35.2950. 49,729 shares changed hands during trading, a decline of 58% from the average session volume of 119,677 shares. The stock had previously closed at $37.26.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TBN. Weiss Ratings restated a "sell (d)" rating on shares of Tamboran Resources in a research note on Wednesday, April 8th. Wells Fargo & Company raised their price objective on Tamboran Resources from $35.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, March 30th. Finally, Piper Sandler restated an "overweight" rating and set a $74.00 price objective (up from $41.00) on shares of Tamboran Resources in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.50.

Tamboran Resources Trading Down 5.5%

The company has a market cap of $797.87 million, a price-to-earnings ratio of -18.43 and a beta of -1.60. The firm has a 50-day moving average price of $33.04 and a 200 day moving average price of $28.39. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.09.

Tamboran Resources (NYSE:TBN - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported ($0.33) EPS for the quarter, hitting the consensus estimate of ($0.33). As a group, sell-side analysts forecast that Tamboran Resources Corporation will post -1.86 EPS for the current year.

Insider Activity at Tamboran Resources

In other news, Director Scott D. Sheffield bought 6,990 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was bought at an average price of $36.02 per share, for a total transaction of $251,779.80. Following the transaction, the director owned 292,430 shares in the company, valued at $10,533,328.60. The trade was a 2.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TBN. Financial Management Professionals Inc. bought a new stake in shares of Tamboran Resources in the 3rd quarter worth approximately $27,000. Bank of America Corp DE lifted its holdings in shares of Tamboran Resources by 66.7% in the 4th 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 last quarter. State of Wyoming bought a new stake in shares of Tamboran Resources in the 2nd quarter worth approximately $99,000. Walleye Capital LLC bought a new stake in shares of Tamboran Resources in the 4th quarter worth approximately $204,000. Finally, XY Capital Ltd bought a new stake in shares of Tamboran Resources in the 4th quarter worth approximately $253,000.

About Tamboran Resources

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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