Tamboran Resources Corporation (NYSE:TBN) Stock Has Consensus Target Price of $58.50 According to Brokerages

Shares of Tamboran Resources Corporation (NYSE:TBN) have received a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $58.50.

TBN has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th. Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a report on Monday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBN. Walleye Capital LLC lifted its position in shares of Tamboran Resources by 6.4% in the 1st quarter. Walleye Capital LLC now owns 7,983 shares of the company’s stock worth $399,000 after buying an additional 482 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Tamboran Resources during the 2nd quarter valued at about $39,000. Deutsche Bank AG acquired a new stake in Tamboran Resources during the second quarter worth about $42,000. Avalon Trust Co bought a new position in Tamboran Resources in the second quarter worth about $44,000. Finally, Janney Montgomery Scott LLC bought a new position in Tamboran Resources in the first quarter worth about $240,000.

Tamboran Resources Stock Performance

Tamboran Resources stock opened at $36.16 on Tuesday. Tamboran Resources has a fifty-two week low of $19.55 and a fifty-two week high of $52.21. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of -19.34 and a beta of -2.03. The stock has a fifty day moving average of $36.27 and a two-hundred day moving average of $35.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00.

Tamboran Resources Company Profile

Tamboran Resources Corporation (NYSE:TBN) is an Australia-focused natural gas exploration and development company. The company’s primary asset base is located in the Beetaloo Basin in Australia’s Northern Territory, where it is pursuing the development of large-scale shale gas resources.

Tamboran’s activities include acquiring and evaluating exploration acreage, drilling and testing wells, and advancing infrastructure and commercial development plans for natural gas production. Its Beetaloo Basin portfolio includes the Shenandoah South and Amungee projects, which are intended to support future domestic gas supply and potential liquefied natural gas export opportunities.

The company was established to develop unconventional gas resources in Australia and has focused its operations on the Northern Territory rather than maintaining a broad international footprint.