Tamboran Resources (NYSE:TBN) Trading Down 4.6% - Time to Sell?

Tamboran Resources Corp (NYSE:TBN - Get Free Report)'s share price fell 4.6% on Tuesday . The company traded as low as $24.39 and last traded at $24.40. Approximately 12,101 shares changed hands during trading, a decline of 51% from the average session volume of 24,889 shares. The stock had previously closed at $25.57.

Analyst Ratings Changes

TBN has been the topic of several research reports. Alliance Global Partners began coverage on Tamboran Resources in a research report on Tuesday, January 21st. They issued a "buy" rating and a $32.00 price objective on the stock. Piper Sandler reissued an "overweight" rating and set a $41.00 price target on shares of Tamboran Resources in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $31.00 price objective on shares of Tamboran Resources in a research report on Thursday, January 9th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Tamboran Resources presently has an average rating of "Moderate Buy" and an average target price of $36.60.

Tamboran Resources Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. The stock has a 50-day simple moving average of $21.22 and a 200-day simple moving average of $20.16.

Tamboran Resources (NYSE:TBN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.33) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.01. Sell-side analysts expect that Tamboran Resources Corp will post -1.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds have recently bought and sold shares of the company. Baupost Group LLC MA bought a new position in Tamboran Resources during the 3rd quarter worth approximately $11,599,000. HITE Hedge Asset Management LLC lifted its stake in Tamboran Resources by 63.1% during the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company's stock worth $9,945,000 after purchasing an additional 189,417 shares during the last quarter. Yaupon Capital Management LP boosted its holdings in Tamboran Resources by 126.4% in the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock worth $6,623,000 after purchasing an additional 176,189 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Tamboran Resources during the third quarter valued at $1,930,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Tamboran Resources during the third quarter worth $1,287,000.

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.