Tamboran Resources Corporation (NYSE:TBN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Tamboran Resources Corporation (NYSE:TBN) has received an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.40.

Several analysts recently issued reports on TBN shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a report on Tuesday, October 14th. Royal Bank Of Canada upped their price target on Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. Finally, Wells Fargo & Company began coverage on Tamboran Resources in a research note on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 price objective on the stock.

Tamboran Resources Price Performance

Shares of TBN opened at $25.64 on Wednesday. The business’s 50-day moving average is $25.40 and its 200-day moving average is $22.51. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $525.34 million, a price-to-earnings ratio of -9.98 and a beta of 0.30. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $34.50.

Tamboran Resources (NYSE:TBN) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.21). The company had revenue of ($0.66) million for the quarter, compared to analysts’ expectations of $0.51 million. Equities research analysts expect that Tamboran Resources will post -1.86 EPS for the current fiscal year.

Insider Activity

In other news, Director Phillip Z. Pace bought 2,000 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $23.50 per share, for a total transaction of $47,000.00. Following the purchase, the director owned 2,000 shares of the company’s stock, valued at $47,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Tamboran Resources

A number of large investors have recently bought and sold shares of TBN. Financial Management Professionals Inc. bought a new position in shares of Tamboran Resources during the third quarter valued at $27,000. Bank of America Corp DE increased its position in shares of Tamboran Resources by 66.7% during 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 in the last quarter. State of Wyoming bought a new position in Tamboran Resources during the 2nd quarter valued at about $99,000. Arbiter Partners Capital Management LLC acquired a new position in Tamboran Resources in the third quarter valued at about $1,356,000. Finally, Whitebox Advisors LLC bought a new stake in Tamboran Resources during the second quarter worth about $1,194,000.

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.