Denbury Resources Inc. (NYSE:DNR) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 79,630,060 shares, a growth of 8.2% from the September 15th total of 73,591,656 shares. Based on an average daily trading volume, of 12,675,277 shares, the days-to-cover ratio is currently 6.3 days. Approximately 20.4% of the shares of the company are sold short.
In other news, Director Greg Mcmichael sold 10,000 shares of Denbury Resources stock in a transaction on Monday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the sale, the director now owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.86% of the company’s stock.
A number of institutional investors have recently modified their holdings of DNR. Clinton Group Inc. increased its stake in shares of Denbury Resources by 83.6% in the second quarter. Clinton Group Inc. now owns 28,493 shares of the company’s stock valued at $102,000 after buying an additional 12,970 shares in the last quarter. Oakbrook Investments LLC increased its stake in shares of Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock valued at $103,000 after buying an additional 12,800 shares in the last quarter. World Asset Management Inc increased its stake in shares of Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock valued at $105,000 after buying an additional 1,829 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Denbury Resources during the second quarter valued at $109,000. Finally, Acrospire Investment Management LLC bought a new stake in shares of Denbury Resources during the second quarter valued at $111,000. Institutional investors own 90.47% of the company’s stock.
Shares of Denbury Resources (NYSE:DNR) opened at 2.81 on Monday. The stock’s 50 day moving average price is $3.02 and its 200 day moving average price is $3.36. The company’s market capitalization is $1.04 billion. Denbury Resources has a 12-month low of $0.86 and a 12-month high of $4.80.
Denbury Resources (NYSE:DNR) last issued its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ 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 positive return on equity of 6.04% and a negative net margin of 361.13%. The firm’s quarterly revenue was down 32.5% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, equities research analysts forecast that Denbury Resources will post ($0.01) earnings per share for the current year.
A number of research firms have recently weighed in on DNR. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Tuesday, June 21st. Mizuho began coverage on Denbury Resources in a research note on Wednesday, October 5th. They issued a “neutral” rating and a $3.00 price target for the company. Finally, Barclays PLC downgraded Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $3.00 to $2.50 in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. Denbury Resources has a consensus rating of “Hold” and a consensus target price of $2.51.
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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