Tamboran Resources (NYSE:TBN) Issues Quarterly Earnings Results

Tamboran Resources (NYSE:TBN) issued its quarterly earnings results on Thursday. The company reported ($0.35) earnings per share (EPS) for the quarter, FiscalAI reports.

Tamboran Resources Stock Up 0.4%

Tamboran Resources stock traded up $0.13 on Thursday, hitting $28.81. 161,659 shares of the stock traded hands, compared to its average volume of 162,883. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 0.07. The business’s fifty day simple moving average is $33.77 and its 200 day simple moving average is $33.88. The firm has a market cap of $1.01 billion, a P/E ratio of -15.41 and a beta of -1.82. Tamboran Resources has a 1 year low of $22.33 and a 1 year high of $52.21.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TBN. Private Advisor Group LLC bought a new position in shares of Tamboran Resources in the third quarter worth approximately $807,000. Boston Partners bought a new stake in Tamboran Resources in the 3rd quarter worth about $10,482,000. Russell Investments Group Ltd. lifted its stake in Tamboran Resources by 16.5% during the 3rd 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 boosted its holdings in shares of Tamboran Resources by 17.0% during the 3rd quarter. Black Diamond Financial LLC now owns 15,800 shares of the company’s stock valued at $521,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new stake in Tamboran Resources in the third quarter worth approximately $262,000.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TBN shares. Wall Street Zen upgraded shares of Tamboran Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a research report on Friday, October 2nd. Zacks Research upgraded shares of Tamboran Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Finally, Scotiabank assumed coverage on Tamboran Resources in a report on Wednesday, October 14th. They issued an “outperform” rating and a $70.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.80.

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.