Mizuho initiated coverage on shares of Denbury Resources Inc. (NYSE:DNR) in a research note issued to investors on Wednesday. The brokerage issued a neutral rating and a $3.00 price target on the stock.
Several other equities analysts also recently weighed in on DNR. Stifel Nicolaus raised shares of Denbury Resources from a sell rating to a hold rating in a report on Wednesday, June 15th. Zacks Investment Research raised shares of Denbury Resources from a hold rating to a buy rating and set a $5.00 price target on the stock in a report on Tuesday, June 21st. Finally, Barclays PLC downgraded shares of Denbury Resources from an equal weight rating to an underweight rating and lowered their price target for the company from $3.00 to $2.50 in a report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $2.51.
Denbury Resources (NYSE:DNR) opened at 2.98 on Wednesday. The company’s 50 day moving average is $3.03 and its 200 day moving average is $3.34. The company’s market cap is $1.10 billion. Denbury Resources has a 12-month low of $0.86 and a 12-month high of $4.80.
Denbury Resources (NYSE:DNR) last announced its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. The company earned $255.15 million during the quarter, compared to analyst estimates of $285.70 million. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. The firm’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 earnings per share. Analysts forecast that Denbury Resources will post ($0.01) earnings per share for the current fiscal year.
In related news, Director Greg Mcmichael sold 10,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $3.13, for a total value of $31,300.00. Following the sale, the director now owns 89,379 shares in the company, valued at $279,756.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.86% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Group LTD boosted its position in Denbury Resources by 4.2% in the first quarter. BlackRock Group LTD now owns 347,956 shares of the company’s stock worth $772,000 after buying an additional 14,037 shares during the period. BNP Paribas Arbitrage SA boosted its position in Denbury Resources by 100,706.4% in the second quarter. BNP Paribas Arbitrage SA now owns 173,387 shares of the company’s stock worth $622,000 after buying an additional 173,215 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Denbury Resources by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 10,426,953 shares of the company’s stock worth $23,148,000 after buying an additional 161,984 shares during the period. UBS Group AG boosted its position in Denbury Resources by 3,483.2% in the first quarter. UBS Group AG now owns 693,020 shares of the company’s stock worth $1,538,000 after buying an additional 673,679 shares during the period. Finally, Quantbot Technologies LP boosted its position in Denbury Resources by 472.0% in the second quarter. Quantbot Technologies LP now owns 67,673 shares of the company’s stock worth $242,000 after buying an additional 55,843 shares during the period. Institutional investors and hedge funds own 90.47% of the company’s stock.
About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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