Tamboran Resources (NYSE:TBN) Announces Earnings Results

by · The Markets Daily

Tamboran Resources (NYSE:TBN – Get Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.66), FiscalAI reports.

Tamboran Resources Stock Down 0.1%

Shares of TBN traded down $0.03 on Wednesday, reaching $28.76. The stock had a trading volume of 40,300 shares, compared to its average volume of 46,964. The company has a 50-day simple moving average of $26.70 and a 200-day simple moving average of $24.43. The firm has a market capitalization of $651.01 million, a price-to-earnings ratio of -11.19 and a beta of 0.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.92 and a current ratio of 0.92. Tamboran Resources has a 12-month low of $17.29 and a 12-month high of $31.90.

Insider Activity at Tamboran Resources

In related news, Director Phillip Z. Pace acquired 2,000 shares of Tamboran Resources stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $23.50 per share, with a total value of $47,000.00. Following the transaction, the director directly owned 2,000 shares in the company, valued at approximately $47,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. bought a new position in shares of Tamboran Resources during the fourth quarter valued at approximately $2,026,000. HighTower Advisors LLC purchased a new position in Tamboran Resources in the 4th quarter worth $493,000. Bank of America Corp DE increased its holdings in Tamboran Resources by 167.1% in the 3rd quarter. Bank of America Corp DE now owns 31,482 shares of the company’s stock worth $862,000 after buying an additional 19,694 shares during the period. UBS Group AG raised its stake in shares of Tamboran Resources by 170.9% during the 3rd quarter. UBS Group AG now owns 278,938 shares of the company’s stock valued at $7,637,000 after buying an additional 175,973 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Tamboran Resources in the second quarter worth about $99,000.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company started coverage on shares of Tamboran Resources in a research report on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 target price on the stock. Royal Bank Of Canada lifted their price objective on Tamboran Resources from $30.00 to $38.00 and gave the stock a “sector perform” rating in a report on Friday, October 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Tamboran Resources in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Tamboran Resources has an average rating of “Moderate Buy” and an average target price of $36.33.

Check Out Our Latest Research Report on TBN

About Tamboran Resources

(Get Free Report)

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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