Tamboran Resources (NYSE:TBN) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Tamboran Resources Stock Down 0.4 %

NYSE TBN traded down $0.10 during mid-day trading on Thursday, reaching $24.69. 2,384 shares of the stock were exchanged, compared to its average volume of 24,574. Tamboran Resources has a 1 year low of $15.75 and a 1 year high of $34.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59. The business’s 50 day moving average is $20.89 and its 200-day moving average is $20.15.

Wall Street Analyst Weigh In

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