Tamboran Resources Corp (NYSE:TBN) Short Interest Up 19.7% in February

Tamboran Resources Corp (NYSE:TBN) was the recipient of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 27,400 shares, an increase of 19.7% from the January 31st total of 22,900 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 24,300 shares, the days-to-cover ratio is currently 1.1 days.

Analyst Upgrades and Downgrades

TBN has been the subject of several research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $31.00 price objective on shares of Tamboran Resources in a report on Thursday, January 9th. Piper Sandler reaffirmed an “overweight” rating and set a $41.00 price objective on shares of Tamboran Resources in a report on Monday, December 23rd. Finally, Alliance Global Partners began coverage on Tamboran Resources in a report on Tuesday, January 21st. They set a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.60.

Tamboran Resources Price Performance

NYSE TBN opened at $23.23 on Friday. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $34.50. The business has a fifty day moving average of $23.57 and a 200-day moving average of $20.47. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.77 and a quick ratio of 1.77.

Tamboran Resources (NYSE:TBN) last released 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. Equities research analysts predict that Tamboran Resources will post -1.86 earnings per share for the current year.

Hedge Funds Weigh In On Tamboran Resources

Several institutional investors have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC increased its stake in Tamboran Resources by 1.5% in the fourth 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 during the last quarter. Bank of America Corp DE increased its stake in 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 purchasing an additional 600 shares during the last quarter. Yaupon Capital Management LP increased its stake in Tamboran Resources by 126.4% in the fourth 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 during the last quarter. HITE Hedge Asset Management LLC increased its stake in Tamboran Resources by 4.5% in the fourth quarter. HITE Hedge Asset Management LLC now owns 511,421 shares of the company’s stock valued at $10,735,000 after purchasing an additional 22,004 shares during the last quarter. Finally, Ingalls & Snyder LLC increased its stake in Tamboran Resources by 13.0% in the fourth quarter. Ingalls & Snyder LLC now owns 71,540 shares of the company’s stock valued at $1,502,000 after purchasing an additional 8,205 shares during the last quarter.

About Tamboran Resources

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.