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

Tamboran Resources (NYSE:TBN - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.01, Zacks reports.

Tamboran Resources Stock Performance

Tamboran Resources stock traded up $0.02 during mid-day trading on Friday, hitting $24.27. 29,857 shares of the company's stock were exchanged, compared to its average volume of 23,893. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources has a 1-year low of $15.75 and a 1-year high of $34.50. The stock has a 50 day moving average of $21.22 and a two-hundred day moving average of $20.13.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TBN. Alliance Global Partners began coverage on Tamboran Resources in a report on Tuesday, January 21st. They set a "buy" rating and a $32.00 price objective for the company. Royal Bank of Canada reiterated a "sector perform" rating and set a $31.00 price objective on shares of Tamboran Resources in a report on Thursday, January 9th. Finally, Piper Sandler reiterated an "overweight" rating and set a $41.00 price objective on shares of Tamboran Resources in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently 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.