Tamboran Resources Corp (NYSE:TBN) Short Interest Down 14.7% in December

Tamboran Resources Corp (NYSE:TBN) was the recipient of a large decrease in short interest in the month of 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. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 15,900 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TBN shares. Piper Sandler restated an “overweight” rating and issued a $41.00 price objective on shares of Tamboran Resources in a research note on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $31.00 price objective on shares of Tamboran Resources in a report on Tuesday, November 19th.

Tamboran Resources Trading Up 7.3 %

Tamboran Resources stock traded up $1.36 on Tuesday, hitting $19.96. The company’s stock had a trading volume of 10,679 shares, compared to its average volume of 38,408. Tamboran Resources has a one year low of $15.75 and a one year high of $25.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.59 and a quick ratio of 2.59. The firm has a fifty day simple moving average of $18.01.

Institutional Trading of Tamboran Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Yaupon Capital Management LP lifted its holdings in shares of Tamboran Resources by 7.2% during the third quarter. Yaupon Capital Management LP now owns 139,355 shares of the company’s stock valued at $2,832,000 after acquiring an additional 9,355 shares during the period. Atom Investors LP acquired a new position in Tamboran Resources in the third quarter valued at about $351,000. Ingalls & Snyder LLC bought a new stake in Tamboran Resources during the third quarter worth about $1,287,000. The Manufacturers Life Insurance Company bought a new stake in Tamboran Resources during the third quarter worth about $1,930,000. Finally, HITE Hedge Asset Management LLC increased its holdings 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 buying an additional 189,417 shares in 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.