Tamboran Resources (NYSE:TBN) Releases Earnings Results, Beats Estimates By $0.01 EPS

Tamboran Resources (NYSE:TBN) issued its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.01, Zacks reports.

Tamboran Resources Stock Performance

TBN stock traded up $0.31 during mid-day trading on Wednesday, hitting $24.71. The stock had a trading volume of 38,372 shares, compared to its average volume of 25,370. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50. The company has a fifty day moving average of $20.73 and a 200 day moving average of $20.12. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TBN. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 target price on shares of Tamboran Resources in a research report on Thursday, January 9th. Alliance Global Partners assumed coverage on shares of Tamboran Resources in a research report on Tuesday, January 21st. They set a “buy” rating and a $32.00 price objective on the stock. Finally, Piper Sandler restated an “overweight” rating and issued a $41.00 target price on shares of Tamboran Resources in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.60.

About Tamboran Resources

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.