Tamboran Resources Corp (NYSE:TBN) Short Interest Update

Tamboran Resources Corp (NYSE:TBN) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 27,400 shares, a growth of 19.7% from the January 31st total of 22,900 shares. Based on an average trading volume of 24,300 shares, the short-interest ratio is currently 1.1 days. Currently, 0.3% of the shares of the stock are short sold.

Institutional Trading of Tamboran Resources

Several large investors have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in 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 buying an additional 600 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Tamboran Resources by 1.5% during the 4th quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company’s stock worth $6,390,000 after acquiring an additional 4,410 shares during the period. Ingalls & Snyder LLC boosted its stake in shares of 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 acquiring an additional 8,205 shares during the period. Yaupon Capital Management LP lifted its holdings in Tamboran Resources by 7.2% during the 3rd quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock worth $2,832,000 after purchasing an additional 9,355 shares during the last quarter. Finally, Atom Investors LP acquired a new position in Tamboran Resources in the 3rd quarter valued at $351,000.

Analyst Ratings Changes

Several analysts have issued reports on TBN shares. Royal Bank of Canada reissued 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 restated an “overweight” rating and set a $41.00 price target on shares of Tamboran Resources in a report on Monday, December 23rd. Finally, Alliance Global Partners began coverage on shares of Tamboran Resources in a research report on Tuesday, January 21st. They issued a “buy” rating and a $32.00 price target for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.60.

Tamboran Resources Trading Up 0.6 %

Shares of TBN traded up $0.13 during trading hours on Friday, hitting $23.23. 15,055 shares of the company were exchanged, compared to its average volume of 39,624. The firm has a fifty day simple moving average of $23.48 and a 200-day simple moving average of $20.47. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.77 and a current ratio of 1.77. Tamboran Resources has a one year low of $15.75 and a one year high of $34.50.

Tamboran Resources (NYSE:TBN) last issued its earnings results on Wednesday, February 12th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.01. As a group, analysts anticipate that Tamboran Resources will post -1.86 EPS for the current fiscal year.

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.