Tamboran Resources (NYSE:TBN) Posts Earnings Results

Tamboran Resources (NYSE:TBN) released its quarterly earnings results on Wednesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.01, Zacks reports.

Tamboran Resources Stock Up 1.3 %

TBN stock traded up $0.31 during trading on Wednesday, reaching $24.71. 38,372 shares of the stock were exchanged, compared to its average volume of 25,370. The stock has a 50 day simple moving average of $20.73 and a 200-day simple moving average of $20.12. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Alliance Global Partners assumed coverage on Tamboran Resources in a report on Tuesday, January 21st. They issued a “buy” rating and a $32.00 target price for the company. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Tamboran Resources in a report on Monday, December 23rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price target on shares of Tamboran Resources in a report on Thursday, January 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.60.

Tamboran Resources Company Profile

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.