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

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

Tamboran Resources Stock Performance

Shares of Tamboran Resources stock traded down $0.10 on Thursday, hitting $24.69. 2,384 shares of the company were exchanged, compared to its average volume of 24,574. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $20.89 and a 200 day moving average price of $20.15. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50.

Wall Street Analyst Weigh In

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

Tamboran Resources Company Profile

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.