Tamboran Resources (NYSE:TBN) Trading 0.6% Higher – Should You Buy?

Shares of Tamboran Resources Corp (NYSE:TBN) were up 0.6% on Friday . The company traded as high as $23.31 and last traded at $23.23. Approximately 17,059 shares changed hands during trading, a decline of 57% from the average daily volume of 39,630 shares. The stock had previously closed at $23.10.

Analysts Set New Price Targets

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

Tamboran Resources Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77. The business has a fifty day simple moving average of $23.57 and a two-hundred day simple moving average of $20.45.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01. On average, sell-side analysts predict that Tamboran Resources Corp will post -1.86 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after acquiring an additional 600 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Tamboran Resources by 1.5% in the fourth quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company’s stock valued at $6,390,000 after acquiring an additional 4,410 shares during the last quarter. Ingalls & Snyder LLC raised its stake in shares of Tamboran Resources by 13.0% in the fourth quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company’s stock valued at $1,502,000 after acquiring an additional 8,205 shares during the last quarter. Yaupon Capital Management LP raised its stake in shares of Tamboran Resources by 7.2% in the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after acquiring an additional 9,355 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Tamboran Resources in the third quarter valued at approximately $351,000.

About Tamboran Resources

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.