Tamboran Resources Corporation (NYSE:TBN) Receives $58.50 Consensus Target Price from Brokerages

Tamboran Resources Corporation (NYSE:TBN) has earned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $58.50.

A number of equities research analysts have weighed in on TBN shares. Royal Bank Of Canada upgraded 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 report on Wednesday, April 29th. Roth Capital began coverage on Tamboran Resources in a report on Thursday, May 21st. They set a “buy” rating and a $47.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th. Finally, Zacks Research lowered shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th.

Tamboran Resources Stock Performance

TBN stock opened at $33.66 on Monday. The stock has a 50-day moving average price of $33.23 and a 200-day moving average price of $33.36. Tamboran Resources has a 1-year low of $19.55 and a 1-year high of $52.21. 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 firm has a market cap of $953.19 million, a PE ratio of -18.00 and a beta of -2.08.

Tamboran Resources (NYSE:TBN) last announced 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, equities research analysts expect that Tamboran Resources will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On Tamboran Resources

A number of large investors have recently bought and sold shares of TBN. Bank of America Corp DE raised its holdings in shares of Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after purchasing an additional 600 shares during the period. Deutsche Bank AG bought a new position in Tamboran Resources in the second quarter worth approximately $42,000. Avalon Trust Co bought a new position in Tamboran Resources in the second quarter worth approximately $44,000. State of Wyoming acquired a new stake in Tamboran Resources in the second quarter valued at approximately $99,000. Finally, Walleye Capital LLC acquired a new stake in Tamboran Resources in the fourth quarter valued at approximately $204,000.

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.