Tamboran Resources Corp (NYSE:TBN) Sees Large Growth in Short Interest

Tamboran Resources Corp (NYSE:TBN - Get Free Report) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 32,300 shares, a growth of 20.1% from the March 15th total of 26,900 shares. Based on an average daily trading volume, of 26,500 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

TBN has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $31.00 target price on shares of Tamboran Resources in a research report on Thursday, January 9th. Alliance Global Partners assumed coverage on shares of Tamboran Resources in a report on Tuesday, January 21st. They set a "buy" rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.60.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its position in Tamboran Resources by 1.5% during the fourth quarter. Nuveen Asset Management LLC now owns 304,410 shares of the company's stock worth $6,390,000 after purchasing an additional 4,410 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Tamboran Resources by 66.7% in the 4th 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. Yaupon Capital Management LP grew its stake in shares of Tamboran Resources by 126.4% in the 4th quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock valued at $6,623,000 after buying an additional 176,189 shares during the period. HITE Hedge Asset Management LLC increased its holdings in shares of Tamboran Resources by 4.5% during the 4th quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock worth $10,735,000 after buying an additional 22,004 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its position 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 valued at $1,502,000 after buying an additional 8,205 shares during the period.

Tamboran Resources Stock Up 0.1 %

Shares of TBN traded up $0.02 during trading hours on Friday, hitting $22.01. 219 shares of the stock were exchanged, compared to its average volume of 35,159. Tamboran Resources has a 12-month low of $15.75 and a 12-month high of $34.50. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.02. The stock's 50-day moving average price is $23.58 and its two-hundred day moving average price is $21.22.

Tamboran Resources (NYSE:TBN - Get Free Report) last released 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 forecast that Tamboran Resources will post -1.86 EPS for the current year.

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.