Tamboran Resources Corporation (NYSE:TBN) Short Interest Update

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 28,600 shares, a decline of 26.5% from the May 15th total of 38,900 shares. Approximately 0.3% of the company's shares are sold short. Based on an average daily trading volume, of 12,700 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Trading of Tamboran Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes 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 in the last quarter. Nuveen Asset Management LLC boosted its holdings 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 purchasing an additional 4,410 shares in the last quarter. Yaupon Capital Management LP boosted its holdings in 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 purchasing an additional 176,189 shares in the last quarter. Finally, HITE Hedge Asset Management LLC increased its position in 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 purchasing an additional 22,004 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Northland Securities assumed coverage on shares of Tamboran Resources in a research note on Wednesday, May 28th. They set an "outperform" rating and a $36.00 price target on the stock. Northland Capmk raised shares of Tamboran Resources to a "strong-buy" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $36.50.

Tamboran Resources Stock Down 1.8%

TBN stock opened at $22.55 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.10 and a quick ratio of 1.10. The business has a 50 day simple moving average of $21.19 and a 200-day simple moving average of $21.80. Tamboran Resources has a twelve month low of $15.75 and a twelve month high of $34.50.

Tamboran Resources (NYSE:TBN - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.09). As a group, equities analysts expect 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.

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