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

Tamboran Resources Corporation (NYSE:TBN) has been given a consensus rating of “Moderate Buy” by the seven ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $60.80.

Several analysts have recently issued reports on the stock. Zacks Research upgraded shares of Tamboran Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Wall Street Zen upgraded Tamboran Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Finally, Scotiabank assumed coverage on Tamboran Resources in a research report on Wednesday, October 14th. They set an “outperform” rating and a $70.00 price objective on the stock.

Institutional Trading of Tamboran Resources

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new position in Tamboran Resources during the third quarter worth $807,000. Boston Partners bought a new position in Tamboran Resources during the third quarter valued at $10,482,000. Russell Investments Group Ltd. raised its stake in shares of Tamboran Resources by 16.5% in the third quarter. Russell Investments Group Ltd. now owns 62,197 shares of the company’s stock valued at $2,050,000 after acquiring an additional 8,789 shares during the period. Black Diamond Financial LLC lifted its holdings in shares of Tamboran Resources by 17.0% in the 3rd quarter. Black Diamond Financial LLC now owns 15,800 shares of the company’s stock worth $521,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Kings Path Partners LLC bought a new stake in shares of Tamboran Resources in the 3rd quarter worth about $262,000.

Tamboran Resources Stock Performance

Shares of NYSE:TBN opened at $28.57 on Wednesday. The firm has a fifty day simple moving average of $33.99 and a two-hundred day simple moving average of $33.88. Tamboran Resources has a 52 week low of $22.33 and a 52 week high of $52.21. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $998.98 million, a P/E ratio of -15.28 and a beta of -1.82.

About Tamboran Resources

Tamboran Resources Limited is an independent natural gas company focused on exploring and developing unconventional gas resources in Australia’s Beetaloo Basin in the Northern Territory. Its activities include drilling and evaluating wells to assess the basin’s shale gas potential. The company’s work is centered on the Beetaloo Basin, where it holds interests in exploration and appraisal acreage. Tamboran is working to advance potential gas resources toward development, with the aim of supplying Australian domestic markets and, subject to development and market conditions, supporting future gas exports.