Tamboran Resources (NYSE:TBN) Trading Down 3.9% – Here’s Why

Tamboran Resources Corporation (NYSE:TBNGet Free Report)’s share price was down 3.9% on Monday . The company traded as low as $36.83 and last traded at $36.7550. 27,052 shares changed hands during trading, a decline of 83% from the average daily volume of 156,467 shares. The stock had previously closed at $38.25.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TBN shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Zacks Research cut shares of Tamboran Resources from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.50.

View Our Latest Stock Analysis on TBN

Tamboran Resources Price Performance

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -19.51 and a beta of -2.03. The company’s 50-day moving average is $35.92 and its 200-day moving average is $35.25. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00.

Institutional Investors Weigh In On Tamboran Resources

Several institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of Tamboran Resources in the second quarter valued at about $39,000. Deutsche Bank AG bought a new position in shares of Tamboran Resources during the second quarter worth about $42,000. Avalon Trust Co acquired a new position in shares of Tamboran Resources in the 2nd quarter worth approximately $44,000. Janney Montgomery Scott LLC bought a new stake in Tamboran Resources during the first quarter valued at $240,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Tamboran Resources in the 2nd quarter valued at about $242,000.

Tamboran Resources Company Profile

(Get Free Report)

Tamboran Resources Corporation (NYSE:TBN) is an Australia-focused natural gas exploration and development company. The company’s primary asset base is located in the Beetaloo Basin in Australia’s Northern Territory, where it is pursuing the development of large-scale shale gas resources.

Tamboran’s activities include acquiring and evaluating exploration acreage, drilling and testing wells, and advancing infrastructure and commercial development plans for natural gas production. Its Beetaloo Basin portfolio includes the Shenandoah South and Amungee projects, which are intended to support future domestic gas supply and potential liquefied natural gas export opportunities.

The company was established to develop unconventional gas resources in Australia and has focused its operations on the Northern Territory rather than maintaining a broad international footprint.

Further Reading

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