Tamboran Resources Corp (NYSE:TBN - Get Free Report) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 33,600 shares, a decline of 13.8% from the December 15th total of 39,000 shares. Based on an average trading volume of 15,300 shares, the days-to-cover ratio is currently 2.2 days. Approximately 0.4% of the company's stock are short sold.
Tamboran Resources Stock Performance
Shares of Tamboran Resources stock traded up $0.20 during midday trading on Thursday, hitting $21.65. The company had a trading volume of 9,625 shares, compared to its average volume of 23,052. The business has a fifty day moving average price of $18.71. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.03. Tamboran Resources has a 12-month low of $15.75 and a 12-month high of $25.99.
Analysts Set New Price Targets
Several equities research analysts have weighed in on TBN shares. Royal Bank of Canada restated a "sector perform" rating and issued a $31.00 target price on shares of Tamboran Resources in a research note on Thursday, January 9th. 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.
Check Out Our Latest Research Report on TBN
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Atom Investors LP purchased a new stake in shares of Tamboran Resources during the third quarter valued at $351,000. Ingalls & Snyder LLC purchased a new stake in Tamboran Resources during the 3rd quarter valued at about $1,287,000. The Manufacturers Life Insurance Company purchased a new stake in Tamboran Resources during the 3rd quarter valued at about $1,930,000. Yaupon Capital Management LP increased its holdings in shares of Tamboran Resources by 7.2% in the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company's stock valued at $2,832,000 after purchasing an additional 9,355 shares during the period. Finally, Edge Capital Group LLC purchased a new position in shares of Tamboran Resources in the second quarter worth about $4,687,000.
About Tamboran Resources
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Tamboran Resources, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tamboran Resources wasn't on the list.
While Tamboran Resources currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
