Tamboran Resources Corporation (NYSE:TBN – Get Free Report) has been given a consensus rating of “Hold” by the six research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $58.50.
A number of equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 29th. Roth Capital assumed coverage on shares of Tamboran Resources in a research note on Thursday, May 21st. They issued a “buy” rating and a $47.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th.
Tamboran Resources Stock Performance
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Tamboran Resources by 66.7% during the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after purchasing an additional 600 shares in the last quarter. Quantbot Technologies LP bought a new stake in Tamboran Resources during the second quarter worth about $39,000. Deutsche Bank AG purchased a new position in shares of Tamboran Resources in the 2nd quarter worth about $42,000. Avalon Trust Co purchased a new position in shares of Tamboran Resources in the 2nd quarter worth about $44,000. Finally, State of Wyoming bought a new position in shares of Tamboran Resources during the 2nd quarter valued at about $99,000.
About Tamboran Resources
Tamboran Resources is an independent energy company focused on the exploration and development of unconventional natural gas resources. Headquartered in Canada and listed on the New York Stock Exchange under the ticker TBN, the company concentrates its activities on onshore basins in Australia. Tamboran’s primary objective is to advance its exploration acreage toward commercial viability by leveraging modern drilling and reservoir evaluation techniques.
The company holds exploration licenses in the Beetaloo Basin in the Northern Territory of Australia, where it is conducting appraisal drilling programs to define reservoir characteristics and recoverability.
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