Tamboran Resources Corporation (NYSE:TBN – Get Free Report) has been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $60.80.
A number of brokerages have recently weighed in on TBN. Zacks Research upgraded Tamboran Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, September 21st. Scotiabank began coverage on shares of Tamboran Resources in a research report on Wednesday, October 14th. They issued an “outperform” rating and a $70.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a research note on Friday, October 2nd. Finally, Wall Street Zen raised Tamboran Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th.
Check Out Our Latest Stock Analysis on Tamboran Resources
Institutional Trading of Tamboran Resources
A number of institutional investors and hedge funds have recently made changes to their positions in TBN. Quantbot Technologies LP acquired a new position in shares of Tamboran Resources during the second quarter worth $39,000. GK Wealth Management LLC purchased a new stake in Tamboran Resources during the 3rd quarter worth approximately $41,000. Deutsche Bank AG acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at approximately $42,000. Avalon Trust Co purchased a new position in shares of Tamboran Resources during the 2nd quarter valued at approximately $44,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Tamboran Resources during the 1st quarter valued at approximately $240,000.
Tamboran Resources Stock Performance
TBN stock opened at $30.45 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.61 and a quick ratio of 2.61. The company’s 50-day moving average price is $35.89 and its 200 day moving average price is $35.03. Tamboran Resources has a 52 week low of $22.33 and a 52 week high of $52.21.
About Tamboran Resources
Tamboran Resources Corporation (NYSE:TBN) is an Australian natural gas exploration and development company focused on the Beetaloo Basin in the Northern Territory. The company is working to develop large-scale natural gas resources in the basin for potential supply to Australia’s domestic energy market and liquefied natural gas export markets.
Tamboran’s activities include acquiring and managing exploration acreage, drilling and evaluating wells, and advancing gas development projects.
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