Tamboran Resources (NYSE:TBN) Posts Earnings Results, Misses Estimates By $0.21 EPS

Tamboran Resources (NYSE:TBN) announced its quarterly earnings results on Thursday. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.21), Zacks reports. The firm had revenue of ($0.66) million for the quarter, compared to the consensus estimate of $0.51 million.

Tamboran Resources Price Performance

Shares of Tamboran Resources stock traded up $0.01 during trading on Friday, hitting $23.96. 27,249 shares of the stock were exchanged, compared to its average volume of 74,072. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50. The company has a fifty day moving average price of $24.71 and a 200-day moving average price of $22.03. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On Tamboran Resources

A number of large investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its position in Tamboran Resources by 170.9% during the third quarter. UBS Group AG now owns 278,938 shares of the company’s stock worth $7,637,000 after acquiring an additional 175,973 shares during the last quarter. Whitebox Advisors LLC bought a new position in shares of Tamboran Resources during the second quarter worth approximately $1,194,000. Bank of America Corp DE lifted its holdings in Tamboran Resources by 1,471.7% during the 2nd quarter. Bank of America Corp DE now owns 11,788 shares of the company’s stock worth $251,000 after purchasing an additional 11,038 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Tamboran Resources during the 2nd quarter worth approximately $99,000.

Analysts Set New Price Targets

Several brokerages have issued reports on TBN. Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a report on Tuesday, October 14th. Royal Bank Of Canada increased their target price on Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.75.

About Tamboran Resources

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.