Tamboran Resources (NYSE:TBN) Posts Quarterly Earnings Results, Beats Estimates By $25.59 EPS

Tamboran Resources (NYSE:TBN) posted its quarterly earnings results on Friday. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($25.54) by $25.59, FiscalAI reports.

Tamboran Resources Price Performance

Shares of Tamboran Resources stock opened at $36.16 on Friday. The business has a 50 day moving average of $36.27 and a 200 day moving average of $35.40. Tamboran Resources has a 52 week low of $19.55 and a 52 week high of $52.21. The company has a market cap of $1.02 billion, a PE ratio of -19.34 and a beta of -2.03. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TBN. Zacks Research upgraded shares of Tamboran Resources from a “strong sell” rating to a “hold” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d)” rating on shares of Tamboran Resources in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.50.

Tamboran Resources Company Profile

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.