Tamboran Resources (NYSE:TBN) Trading Down 4.6% – Should You Sell?

Tamboran Resources Corp (NYSE:TBN)’s stock price traded down 4.6% during mid-day trading on Tuesday . The company traded as low as $24.39 and last traded at $24.40. 12,101 shares traded hands during trading, a decline of 51% from the average session volume of 24,889 shares. The stock had previously closed at $25.57.

Analysts Set New Price Targets

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

Tamboran Resources Stock Down 4.6 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. The company’s 50 day simple moving average is $20.59 and its 200-day simple moving average is $20.12.

Tamboran Resources (NYSE:TBN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.12). On average, sell-side analysts predict that Tamboran Resources Corp will post -1.51 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tamboran Resources

Large investors have recently made changes to their positions in the stock. Atom Investors LP acquired a new position in shares of Tamboran Resources in the third quarter worth about $351,000. Ingalls & Snyder LLC acquired a new stake in Tamboran Resources in the 3rd quarter valued at about $1,287,000. The Manufacturers Life Insurance Company acquired a new stake in Tamboran Resources in the 3rd quarter valued at about $1,930,000. Yaupon Capital Management LP raised its holdings in Tamboran Resources by 7.2% in the 3rd 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, HITE Hedge Asset Management LLC raised its holdings in Tamboran Resources by 63.1% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock valued at $9,945,000 after acquiring an additional 189,417 shares during the last quarter.

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.