Tamboran Resources Corporation (NYSE:TBN) Receives Consensus Rating of “Hold” from Analysts

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

A number of research analysts recently commented on TBN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research report on Monday, July 6th. Roth Capital assumed coverage on Tamboran Resources in a research report on Thursday, May 21st. They set a “buy” rating and a $47.00 target price on the stock. Finally, Zacks Research cut Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds have recently modified their holdings of TBN. Quantbot Technologies LP acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at $39,000. Deutsche Bank AG purchased a new position in Tamboran Resources during the 2nd quarter worth $42,000. Avalon Trust Co acquired a new position in Tamboran Resources in the second quarter valued at $44,000. Bank of America Corp DE increased its stake in Tamboran Resources by 66.7% in 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. Finally, State of Wyoming acquired a new position in Tamboran Resources in the second quarter valued at $99,000.

Tamboran Resources Stock Up 2.2%

TBN stock opened at $37.76 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.10. Tamboran Resources has a twelve month low of $19.55 and a twelve month high of $52.21. The company’s 50 day moving average is $33.81 and its two-hundred day moving average is $34.24. The stock has a market cap of $1.07 billion, a P/E ratio of -20.19 and a beta of -2.08.

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.