Tamboran Resources (NYSE:TBN) Trading Down 4.2% – Should You Sell?

Tamboran Resources Corporation (NYSE:TBN)’s share price fell 4.2% during trading on Monday . The stock traded as low as $29.84 and last traded at $30.5810. 18,481 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 60,720 shares. The stock had previously closed at $31.92.

Analysts Set New Price Targets

TBN has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research report on Friday, January 9th. Wells Fargo & Company started coverage on Tamboran Resources in a research report on Tuesday, December 2nd. They issued an “overweight” rating and a $35.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $36.33.

Tamboran Resources Trading Down 2.2%

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.01 and a quick ratio of 2.01. The firm’s fifty day moving average is $29.29 and its two-hundred day moving average is $26.39. The firm has a market capitalization of $706.93 million, a PE ratio of -16.35 and a beta of 0.13.

Tamboran Resources (NYSE:TBN) last posted its quarterly earnings data on Wednesday, February 11th. The company reported ($0.33) EPS for the quarter, meeting the consensus estimate of ($0.33). On average, equities analysts predict that Tamboran Resources Corporation will post -1.86 EPS for the current fiscal year.

Institutional Trading of Tamboran Resources

Institutional investors and hedge funds have recently modified their holdings of the business. HITE Hedge Asset Management LLC grew its stake in Tamboran Resources by 44.0% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,737,575 shares of the company’s stock valued at $47,575,000 after purchasing an additional 530,850 shares during the period. Arbiter Partners Capital Management LLC bought a new stake in shares of Tamboran Resources during the 3rd quarter worth $1,356,000. Ingalls & Snyder LLC grew its position in Tamboran Resources by 124.1% during the third quarter. Ingalls & Snyder LLC now owns 258,534 shares of the company’s stock valued at $7,079,000 after buying an additional 143,194 shares during the period. State of Wyoming grew its position in Tamboran Resources by 178.9% during the third quarter. State of Wyoming now owns 12,954 shares of the company’s stock valued at $355,000 after buying an additional 8,310 shares during the period. Finally, Financial Management Professionals Inc. purchased a new stake in Tamboran Resources during the third quarter worth about $27,000.

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.