Tamboran Resources (NYSE:TBN) Announces Quarterly Earnings Results

Tamboran Resources (NYSE:TBN) posted its quarterly earnings data on Wednesday. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01, Zacks reports.

Tamboran Resources Stock Up 1.3 %

Shares of TBN traded up $0.31 during mid-day trading on Wednesday, reaching $24.71. The company had a trading volume of 38,372 shares, compared to its average volume of 25,370. The company’s 50 day simple moving average is $20.73 and its 200 day simple moving average is $20.12. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TBN shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price target on shares of Tamboran Resources in a research note on Thursday, January 9th. Alliance Global Partners initiated coverage on Tamboran Resources in a report on Tuesday, January 21st. They set a “buy” rating and a $32.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Tamboran Resources in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tamboran Resources has an average rating of “Moderate Buy” and a consensus price target of $36.60.

About Tamboran Resources

Tamboran Resources Corporation, a natural gas company, focuses on developing unconventional gas resources in the northern territory of Australia. Its assets include a 25% non-operated working interest in EP 161; a 38.75% working interest in EPs 76, 98, and 117; and a 100% working interest in EPs 136 and 143, as well as EP (A) 197, located in the Betaloo Basin.