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 for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01, Zacks reports.

Tamboran Resources Trading Up 3.2 %

Shares of Tamboran Resources stock opened at $25.03 on Friday. Tamboran Resources has a 1 year low of $15.75 and a 1 year high of $34.50. The business has a fifty day simple moving average of $21.06 and a two-hundred day simple moving average of $20.18. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

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

Tamboran Resources Company Profile

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.