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

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

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

Tamboran Resources Stock Up 6.6 %

Shares of NYSE TBN opened at $22.94 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average is $18.90. Tamboran Resources has a 52-week low of $15.75 and a 52-week high of $25.99.

Tamboran Resources (NYSE:TBN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.12). As a group, equities research analysts forecast that Tamboran Resources will post -1.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Atom Investors LP bought a new stake in shares of Tamboran Resources during the 3rd quarter valued at $351,000. Ingalls & Snyder LLC purchased a new stake in Tamboran Resources during the 3rd quarter valued at approximately $1,287,000. The Manufacturers Life Insurance Company bought a new stake in shares of Tamboran Resources during the third quarter valued at approximately $1,930,000. Yaupon Capital Management LP boosted its position in shares of Tamboran Resources by 7.2% during the third 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 during the last quarter. Finally, Encompass Capital Advisors LLC bought a new position in shares of Tamboran Resources during the second quarter worth $4,687,000.

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.