Tamboran Resources (NYSE:TBN) Coverage Initiated by Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Tamboran Resources (NYSE:TBN) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $32.00 price objective on the stock.

Several other research firms have also issued reports on TBN. Piper Sandler reiterated 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 restated a “sector perform” rating and issued a $31.00 target price on shares of Tamboran Resources in a research note on Thursday, January 9th. 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, Tamboran Resources currently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Tamboran Resources Trading Down 0.3 %

Shares of TBN opened at $21.38 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $25.99. The firm’s 50-day moving average is $18.80.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.12). Equities research analysts predict that Tamboran Resources will post -1.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TBN. Baupost Group LLC MA acquired a new stake in Tamboran Resources during the 3rd quarter valued at approximately $11,599,000. HITE Hedge Asset Management LLC raised its stake in shares of Tamboran Resources by 63.1% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock valued at $9,945,000 after buying an additional 189,417 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in Tamboran Resources during the second quarter worth about $4,687,000. Yaupon Capital Management LP raised its position in Tamboran Resources by 7.2% during 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 in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Tamboran Resources in the third quarter valued at approximately $1,930,000.

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.