Tamboran Resources Corporation (NYSE:TBN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Tamboran Resources Corporation (NYSE:TBN) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $58.50.

Several research firms have recently weighed in on TBN. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a report on Wednesday, April 8th. Royal Bank Of Canada upgraded shares of Tamboran Resources from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $38.00 to $55.00 in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their target price 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 restated an “overweight” rating and issued a $74.00 price target (up from $41.00) on shares of Tamboran Resources in a research report on Tuesday, March 31st. Finally, Roth Mkm began coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They set a “buy” rating and a $47.00 price target for the company.

Insider Buying and Selling at Tamboran Resources

In related news, Director Scott D. Sheffield bought 6,990 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was acquired at an average cost of $36.02 per share, with a total value of $251,779.80. Following the transaction, the director directly owned 292,430 shares in the company, valued at approximately $10,533,328.60. This trade represents a 2.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Phillip Z. Pace bought 10,000 shares of the business’s stock in a transaction on Monday, April 13th. The shares were bought at an average cost of $36.99 per share, for a total transaction of $369,900.00. Following the completion of the acquisition, the director directly owned 35,809 shares in the company, valued at approximately $1,324,574.91. This trade represents a 38.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.50% of the stock is owned by company insiders.

Institutional Trading of Tamboran Resources

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its holdings in Tamboran Resources by 64.5% in the first quarter. Bank of America Corp DE now owns 53,374 shares of the company’s stock valued at $2,668,000 after acquiring an additional 20,932 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Tamboran Resources by 113.8% in the first quarter. The Manufacturers Life Insurance Company now owns 237,748 shares of the company’s stock valued at $11,885,000 after acquiring an additional 126,549 shares during the last quarter. Clough Capital Partners L P bought a new stake in Tamboran Resources in the first quarter valued at approximately $2,344,000. Sei Investments Co. bought a new stake in Tamboran Resources in the first quarter valued at approximately $526,000. Finally, Walleye Capital LLC boosted its holdings in Tamboran Resources by 6.4% in the first quarter. Walleye Capital LLC now owns 7,983 shares of the company’s stock valued at $399,000 after acquiring an additional 482 shares during the last quarter.

Tamboran Resources Stock Up 18.7%

Shares of NYSE TBN opened at $39.96 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -21.37 and a beta of -2.20. Tamboran Resources has a 12 month low of $17.29 and a 12 month high of $52.21. The stock has a 50-day moving average price of $36.14 and a two-hundred day moving average price of $31.25.

Tamboran Resources (NYSE:TBN) last issued its earnings results on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.06). As a group, analysts forecast that Tamboran Resources will post -1.42 earnings per share for the current fiscal year.

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.