Tamboran Resources (NYSE:TBN) Trading 5.5% Higher - Should You Buy?

Key Points

• Tamboran Resources (TBN) shares rose 5.5% to about $45.28 on Tuesday, with trading volume of ~137,866 shares, a 67% increase versus its average session volume.
• Analysts have been lifting targets — Wells Fargo to $58 and Piper Sandler to $74 — leaving a MarketBeat consensus of Moderate Buy with an average target of $51.50.
• Tamboran is an Australia-focused unconventional gas explorer in the Beetaloo Basin; it reported a quarterly loss of $0.33 EPS (in line with estimates), has a market cap near $1.03B and low debt (debt/equity 0.09), but analysts forecast continued negative EPS (about -1.86 for the year), reflecting exploration risk.

Tamboran Resources Corporation (NYSE:TBN - Get Free Report)'s stock price traded up 5.5% during mid-day trading on Tuesday . The stock traded as high as $44.82 and last traded at $45.2840. 137,866 shares traded hands during trading, an increase of 67% from the average session volume of 82,651 shares. The stock had previously closed at $42.94.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upped their price target on shares of Tamboran Resources from $35.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, March 30th. Piper Sandler reiterated 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. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Tamboran Resources in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Tamboran Resources currently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

Tamboran Resources Stock Up 5.5%

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -23.73 and a beta of -1.60. The stock has a fifty day moving average of $32.16 and a two-hundred day moving average of $27.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01.

Tamboran Resources (NYSE:TBN - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.33) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.33). Sell-side analysts anticipate that Tamboran Resources Corporation will post -1.86 earnings per share for the current year.

Institutional Trading of Tamboran Resources

A number of large investors have recently bought and sold shares of the business. HITE Hedge Asset Management LLC lifted its stake in shares of Tamboran Resources by 44.0% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company's stock valued at $47,575,000 after purchasing an additional 530,850 shares during the period. Arbiter Partners Capital Management LLC acquired a new position in shares of Tamboran Resources in the 3rd quarter valued at about $1,356,000. Ingalls & Snyder LLC lifted its stake in shares of Tamboran Resources by 124.1% in the 3rd quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company's stock valued at $7,079,000 after purchasing an additional 143,194 shares during the period. Cooper Investors PTY Ltd. acquired a new position in shares of Tamboran Resources in the 4th quarter valued at about $690,000. Finally, Aventail Capital Group LP lifted its stake in shares of Tamboran Resources by 77.9% in the 4th quarter. Aventail Capital Group LP now owns 150,439 shares of the company's stock valued at $4,096,000 after purchasing an additional 65,886 shares during the period.

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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