Short Interest in Tamboran Resources Corp (NYSE:TBN) Increases By 20.1%

Tamboran Resources Corp (NYSE:TBN) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 32,300 shares, an increase of 20.1% from the March 15th total of 26,900 shares. Based on an average daily volume of 26,500 shares, the short-interest ratio is presently 1.2 days. Currently, 0.3% of the company’s stock are short sold.

Tamboran Resources Trading Down 1.4 %

Shares of Tamboran Resources stock traded down $0.32 during trading hours on Monday, hitting $22.18. The company had a trading volume of 2,314 shares, compared to its average volume of 35,751. The company’s 50-day moving average is $23.76 and its two-hundred day moving average is $21.18. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.02.

Tamboran Resources (NYSE:TBN) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.01. Sell-side analysts anticipate that Tamboran Resources will post -1.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TBN. Alliance Global Partners began coverage on shares of Tamboran Resources in a research report on Tuesday, January 21st. They set a “buy” rating and a $32.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and issued a $31.00 price target on shares of Tamboran Resources in a research note on Thursday, January 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Tamboran Resources in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $36.60.

Institutional Trading of Tamboran Resources

A number of large investors have recently made changes to their positions in TBN. Bank of America Corp DE boosted its holdings in shares of Tamboran Resources by 66.7% in the fourth quarter. Bank of America Corp DE now owns 1,500 shares of the company’s stock valued at $31,000 after acquiring an additional 600 shares during the period. Ingalls & Snyder LLC grew its position in Tamboran Resources by 13.0% during the 4th quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company’s stock worth $1,502,000 after purchasing an additional 8,205 shares during the last quarter. Nuveen Asset Management LLC increased its position in Tamboran Resources by 1.5% in the 4th quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company’s stock valued at $6,390,000 after acquiring an additional 4,410 shares during the period. Yaupon Capital Management LP lifted its position in Tamboran Resources by 126.4% during the 4th quarter. Yaupon Capital Management LP now owns 315,544 shares of the company’s stock worth $6,623,000 after acquiring an additional 176,189 shares during the period. Finally, HITE Hedge Asset Management LLC raised its stake in shares of Tamboran Resources by 4.5% during the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company’s stock worth $10,735,000 after purchasing an additional 22,004 shares during the last quarter.

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.