Tamboran Resources Corporation (NYSE:TBN – Get Free Report) has been assigned an average rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $36.50.
Several research firms have weighed in on TBN. Northland Securities began coverage on Tamboran Resources in a research report on Wednesday, May 28th. They set an “outperform” rating and a $36.00 price target for the company. Northland Capmk raised Tamboran Resources to a “strong-buy” rating in a research report on Wednesday, May 28th.
View Our Latest Research Report on TBN
Tamboran Resources Stock Performance
Tamboran Resources (NYSE:TBN – Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, analysts forecast that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tamboran Resources
A number of hedge funds and other institutional investors have recently made changes to their positions in TBN. Bank of America Corp DE grew 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 valued at $31,000 after purchasing an additional 600 shares during the period. Nuveen Asset Management LLC grew its position in shares of Tamboran Resources by 1.5% in the fourth quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company’s stock valued at $6,390,000 after purchasing an additional 4,410 shares during the period. Yaupon Capital Management LP grew its position in shares of Tamboran Resources by 126.4% in the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company’s stock valued at $6,623,000 after purchasing an additional 176,189 shares during the period. Finally, HITE Hedge Asset Management LLC grew its position in shares of Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company’s stock valued at $10,735,000 after purchasing an additional 22,004 shares during the period.
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.
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