Tamboran Resources (NYSE:TBN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Tamboran Resources (NYSE:TBN) from a strong sell rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

TBN has been the topic of a number of other research reports. Scotiabank started coverage on Tamboran Resources in a report on Wednesday, October 14th. They set an “outperform” rating and a $70.00 target price on the stock. Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.80.

Tamboran Resources Price Performance

Shares of Tamboran Resources stock opened at $30.41 on Friday. The business has a fifty day simple moving average of $36.45 and a 200 day simple moving average of $35.38. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.07. Tamboran Resources has a 12 month low of $22.33 and a 12 month high of $52.21.

Institutional Trading of Tamboran Resources

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

Tamboran Resources Company Profile

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.