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

Alliance Global Partners began coverage on shares of Tamboran Resources (NYSE:TBN) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $32.00 price objective on the stock.

TBN has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $31.00 price target on shares of Tamboran Resources in a report on Thursday, January 9th. Piper Sandler reiterated an “overweight” rating and issued a $41.00 target price on shares of Tamboran Resources in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $36.60.

Tamboran Resources Stock Up 6.6 %

Shares of TBN opened at $22.94 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59. Tamboran Resources has a 1 year low of $15.75 and a 1 year high of $25.99. The business’s 50 day moving average price is $18.90.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.12). Research analysts predict that Tamboran Resources will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TBN. Yaupon Capital Management LP grew its stake in Tamboran Resources by 7.2% in the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock worth $2,832,000 after acquiring an additional 9,355 shares in the last quarter. Atom Investors LP bought a new position in Tamboran Resources in the third quarter worth approximately $351,000. Ingalls & Snyder LLC purchased a new position in Tamboran Resources during the 3rd quarter worth $1,287,000. The Manufacturers Life Insurance Company bought a new stake in Tamboran Resources during the 3rd quarter valued at $1,930,000. Finally, HITE Hedge Asset Management LLC lifted its holdings in shares of Tamboran Resources by 63.1% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock worth $9,945,000 after buying an additional 189,417 shares during the period.

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.