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

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

Tamboran Resources Price Performance

TBN stock traded up $0.31 during midday trading on Wednesday, reaching $24.71. 38,372 shares of the company’s stock traded hands, compared to its average volume of 25,370. 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 firm’s fifty day moving average price is $20.73 and its 200-day moving average price is $20.12. Tamboran Resources has a 52 week low of $15.75 and a 52 week high of $34.50.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $31.00 price objective on shares of Tamboran Resources in a research note on Thursday, January 9th. 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. Finally, Alliance Global Partners initiated coverage on shares of Tamboran Resources in a report on Tuesday, January 21st. They set a “buy” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.