Short Interest in Tamboran Resources Corporation (NYSE:TBN) Decreases By 26.5%

Tamboran Resources Corporation (NYSE:TBN - Get Free Report) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 28,600 shares, a drop of 26.5% from the May 15th total of 38,900 shares. Based on an average daily volume of 12,700 shares, the short-interest ratio is currently 2.3 days. Currently, 0.3% of the company's stock are sold short.

Wall Street Analyst Weigh In

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

Tamboran Resources Stock Up 1.8%

NYSE TBN traded up $0.42 during trading hours on Friday, reaching $23.37. 15,755 shares of the company were exchanged, compared to its average volume of 32,820. Tamboran Resources has a 1 year low of $15.75 and a 1 year high of $34.50. The business's 50 day simple moving average is $21.24 and its 200-day simple moving average is $21.92. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.10 and a current ratio of 1.10.

Tamboran Resources (NYSE:TBN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.09). On average, equities research analysts predict that Tamboran Resources will post -1.86 earnings per share for the current fiscal year.

Institutional Trading of Tamboran Resources

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings 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 worth $31,000 after buying an additional 600 shares during the last quarter. Nuveen Asset Management LLC increased its holdings 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 buying an additional 4,410 shares during the last quarter. HITE Hedge Asset Management LLC increased its holdings in Tamboran Resources by 4.5% during the fourth 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, Yaupon Capital Management LP increased its holdings 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 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.