Tamboran Resources Corp (NYSE:TBN) Short Interest Update

Tamboran Resources Corp (NYSE:TBN) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 39,000 shares, a decrease of 14.7% from the November 30th total of 45,700 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 15,900 shares, the short-interest ratio is currently 2.5 days.

Tamboran Resources Trading Up 0.8 %

Tamboran Resources stock traded up $0.14 during midday trading on Friday, hitting $18.73. 9,670 shares of the company’s stock were exchanged, compared to its average volume of 38,908. The business has a 50 day moving average price of $18.01. Tamboran Resources has a 12-month low of $15.75 and a 12-month high of $25.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.59 and a current ratio of 2.59.

Analyst Ratings Changes

TBN has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $31.00 price target on shares of Tamboran Resources in a research report on Tuesday, November 19th. Piper Sandler reissued an “overweight” rating and issued a $41.00 target price on shares of Tamboran Resources in a research report on Monday, December 23rd.

Hedge Funds Weigh In On Tamboran Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baupost Group LLC MA acquired a new stake in Tamboran Resources during the 3rd quarter worth approximately $11,599,000. HITE Hedge Asset Management LLC increased its stake in shares of Tamboran Resources by 63.1% during the third quarter. HITE Hedge Asset Management LLC now owns 489,417 shares of the company’s stock worth $9,945,000 after acquiring an additional 189,417 shares during the period. Ingalls & Snyder LLC purchased a new position in Tamboran Resources during the third quarter worth about $1,287,000. Encompass Capital Advisors LLC acquired a new stake in Tamboran Resources in the second quarter valued at about $4,687,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Tamboran Resources in the 3rd quarter valued at approximately $1,930,000.

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.