Tamboran Resources Corporation (TBN) – What Are Analysts Thinking About This Stock?

Shares of Tamboran Resources Corporation (NYSE:TBN) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $60.80.

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Scotiabank began coverage on shares of Tamboran Resources in a research note on Wednesday. They issued an “outperform” rating and a $70.00 price objective for the company. Zacks Research raised Tamboran Resources from a “strong sell” rating to a “hold” rating in a report on Monday, September 21st. Finally, Wall Street Zen raised Tamboran Resources from a “strong sell” rating to a “sell” rating in a report on Saturday.

Tamboran Resources Stock Down 1.8%

Shares of Tamboran Resources stock traded down $0.57 during trading hours on Friday, hitting $31.30. The company had a trading volume of 312,364 shares, compared to its average volume of 143,238. The company’s 50-day moving average is $36.56 and its two-hundred day moving average is $35.59. Tamboran Resources has a twelve month low of $22.33 and a twelve month high of $52.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.61 and a quick ratio of 2.61. The company has a market cap of $1.09 billion, a P/E ratio of -16.74 and a beta of -1.91.

Institutional Trading of Tamboran Resources

A number of large investors have recently made changes to their positions in TBN. Quantbot Technologies LP purchased a new position in Tamboran Resources during the 2nd quarter worth approximately $39,000. GK Wealth Management LLC purchased a new stake in Tamboran Resources in the third quarter valued at approximately $41,000. Deutsche Bank AG purchased a new stake in Tamboran Resources in the second quarter valued at approximately $42,000. Avalon Trust Co purchased a new stake in Tamboran Resources in the second quarter valued at approximately $44,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Tamboran Resources in the first quarter valued at approximately $240,000.

About Tamboran Resources

Tamboran Resources is an Australian natural gas exploration and development company focused on the Beetaloo Basin in the Northern Territory. The company is developing large-scale onshore natural gas resources, with an emphasis on producing lower-carbon-intensity gas for Australian energy markets.

Tamboran’s activities include exploration, appraisal drilling, resource development and the planning of production infrastructure. Its principal project area includes the Shenandoah South development in the Beetaloo Basin, where the company is working to establish a long-term supply of natural gas for domestic use and potential liquefied natural gas export markets.

Tamboran Resources is headquartered in Australia and has been led by Chief Executive Officer Joel Riddle.