Tamboran Resources Corp (NYSE:TBN) Short Interest Up 20.1% in March

Tamboran Resources Corp (NYSE:TBN - Get Free Report) was the recipient of a large increase in short interest in 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. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 26,500 shares, the days-to-cover ratio is presently 1.2 days.

Analysts Set New Price Targets

A number of research firms have issued reports on TBN. Alliance Global Partners started coverage on shares of Tamboran Resources in a report on Tuesday, January 21st. They issued a "buy" rating and a $32.00 target price on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $31.00 target price on shares of Tamboran Resources in a research report on Thursday, January 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.60.

Tamboran Resources Trading Down 3.1 %

Shares of TBN stock traded down $0.68 during trading hours on Friday, hitting $21.31. 9,099 shares of the company were exchanged, compared to its average volume of 35,202. The firm has a fifty day moving average of $23.51 and a 200 day moving average of $21.25. 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 has a 1 year low of $15.75 and a 1 year high of $34.50.

Tamboran Resources (NYSE:TBN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.33) earnings per share for the quarter, topping analysts' consensus estimates of ($0.34) by $0.01. As a group, equities research analysts predict that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tamboran Resources

A number of institutional investors have recently added to or reduced their stakes in TBN. Nuveen Asset Management LLC lifted its stake in shares of 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 purchasing an additional 4,410 shares in the last quarter. Bank of America Corp DE lifted its position in Tamboran Resources by 66.7% during 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 in the last quarter. Yaupon Capital Management LP grew its stake in Tamboran Resources by 126.4% during the fourth quarter. Yaupon Capital Management LP now owns 315,544 shares of the company's stock worth $6,623,000 after buying an additional 176,189 shares during the period. HITE Hedge Asset Management LLC increased its position in shares of Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company's stock worth $10,735,000 after acquiring an additional 22,004 shares in the last quarter. Finally, Ingalls & Snyder LLC increased its position in shares of Tamboran Resources by 13.0% in the fourth 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 in 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.