Tamboran Resources Corporation (NYSE:TBN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Tamboran Resources Corporation (NYSE:TBN) have been assigned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $58.50.

Several brokerages have issued reports on TBN. Roth Capital started coverage on shares of Tamboran Resources in a research report on Thursday, May 21st. They set a “buy” rating and a $47.00 price objective on the stock. Zacks Research cut Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada raised Tamboran Resources from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $38.00 to $55.00 in a research note on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th.

Institutional Investors Weigh In On Tamboran Resources

Hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Tamboran Resources by 66.7% in the 4th quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after buying an additional 600 shares during the last quarter. State of Wyoming acquired a new position in Tamboran Resources in the 2nd quarter valued at $99,000. Janney Montgomery Scott LLC purchased a new position in Tamboran Resources during the 1st quarter worth $240,000. Walleye Capital LLC purchased a new position in Tamboran Resources during the 4th quarter worth $204,000. Finally, XY Capital Ltd purchased a new position in Tamboran Resources during the 4th quarter worth $253,000.

Tamboran Resources Price Performance

TBN stock opened at $33.22 on Monday. 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 capitalization of $940.82 million, a P/E ratio of -17.77 and a beta of -2.08. The business has a 50 day simple moving average of $33.38 and a 200-day simple moving average of $33.15. Tamboran Resources has a twelve month low of $19.55 and a twelve month high of $52.21.

Tamboran Resources (NYSE:TBN) last announced its earnings results on Wednesday, May 13th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.06). As a group, equities analysts anticipate that Tamboran Resources will post -1.41 EPS for the current year.

About Tamboran Resources

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.