Tamboran Resources Corporation (NYSE:TBN) Short Interest Update

Tamboran Resources Corporation (NYSE:TBN) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 8,700 shares, a drop of 38.3% from the September 15th total of 14,100 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 49,600 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 49,600 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Tamboran Resources

Several hedge funds and other institutional investors have recently modified their holdings of the business. Alberta Investment Management Corp increased its holdings in Tamboran Resources by 116.8% during the 2nd quarter. Alberta Investment Management Corp now owns 758,680 shares of the company’s stock worth $16,175,000 after purchasing an additional 408,680 shares during the period. HITE Hedge Asset Management LLC increased its holdings in Tamboran Resources by 58.3% during the 1st quarter. HITE Hedge Asset Management LLC now owns 809,505 shares of the company’s stock worth $19,420,000 after purchasing an additional 298,084 shares during the period. Whitebox Advisors LLC purchased a new position in Tamboran Resources during the 2nd quarter worth $1,194,000. Ingalls & Snyder LLC increased its holdings in Tamboran Resources by 36.2% during the 2nd quarter. Ingalls & Snyder LLC now owns 115,340 shares of the company’s stock worth $2,459,000 after purchasing an additional 30,650 shares during the period. Finally, Bank of America Corp DE increased its holdings in Tamboran Resources by 1,471.7% during the 2nd quarter. Bank of America Corp DE now owns 11,788 shares of the company’s stock worth $251,000 after purchasing an additional 11,038 shares during the period.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Tamboran Resources in a research note on Tuesday, October 14th. Royal Bank Of Canada reduced their price target on Tamboran Resources from $31.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Tamboran Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.75.

Tamboran Resources Trading Down 2.4%

Shares of NYSE TBN opened at $24.44 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.55 and a current ratio of 1.55. The business’s 50 day moving average price is $23.24 and its 200-day moving average price is $21.72. Tamboran Resources has a fifty-two week low of $15.75 and a fifty-two week high of $34.50. The company has a market cap of $435.52 million, a price-to-earnings ratio of -9.70 and a beta of 0.32.

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.