Tamboran Resources Corporation (NYSE:TBN) Stock Rated “Moderate Buy” by Sell-Side Analysts

Shares of Tamboran Resources Corporation (NYSE:TBN) have earned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $58.50.

A number of equities analysts recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a research note on Monday, July 6th. Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, September 21st.

Tamboran Resources Price Performance

Shares of TBN opened at $34.99 on Tuesday. The firm has a market capitalization of $990.95 million, a PE ratio of -18.71 and a beta of -2.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. Tamboran Resources has a 1-year low of $19.55 and a 1-year high of $52.21. The company’s fifty day moving average price is $36.34 and its 200-day moving average price is $35.39.

Institutional Investors Weigh In On Tamboran Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Walleye Capital LLC lifted its stake in Tamboran Resources by 6.4% during the 1st 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 period. Quantbot Technologies LP acquired a new stake in shares of Tamboran Resources in the second quarter worth $39,000. Deutsche Bank AG acquired a new stake in shares of Tamboran Resources in the second quarter worth $42,000. Avalon Trust Co purchased a new position in shares of Tamboran Resources during the second quarter worth $44,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Tamboran Resources during the first quarter worth $240,000.

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.