Denbury Resources Inc. (NYSE:DNR)‘s stock had its “hold” rating reissued by analysts at Johnson Rice in a research note issued on Tuesday.
DNR has been the subject of several other reports. Barclays PLC lowered Denbury Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $3.00 to $2.50 in a report on Wednesday, August 10th. Zacks Investment Research lowered Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Finally, Mizuho assumed coverage on Denbury Resources in a report on Wednesday, October 5th. They set a “neutral” rating and a $3.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $2.51.
Denbury Resources (NYSE:DNR) traded down 1.81% during trading on Tuesday, hitting $2.72. The stock had a trading volume of 3,838,545 shares. Denbury Resources has a 52 week low of $0.86 and a 52 week high of $4.80. The company has a 50-day moving average of $3.01 and a 200-day moving average of $3.38. The stock’s market capitalization is $1.01 billion.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. The business earned $255.15 million during the quarter, compared to analyst estimates of $285.70 million. During the same period in the prior year, the company earned $0.13 earnings per share. Denbury Resources’s revenue was down 32.5% compared to the same quarter last year. On average, equities analysts expect that Denbury Resources will post ($0.01) earnings per share for the current fiscal year.
In other news, Director Greg Mcmichael sold 10,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $3.13, for a total value of $31,300.00. Following the completion of the transaction, the director now directly owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares 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 worth $102,000 after buying an additional 12,970 shares during the period. 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 worth $103,000 after buying an additional 12,800 shares during the period. 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 worth $105,000 after buying an additional 1,829 shares during the period. DekaBank Deutsche Girozentrale acquired a new stake in shares of Denbury Resources during the second quarter worth about $109,000. Finally, Acrospire Investment Management LLC acquired a new stake in shares of Denbury Resources during the second quarter worth about $111,000. 90.47% of the stock is owned by hedge funds and other institutional investors.
Denbury Resources Company Profile
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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