Denbury Resources (DNR) Bonds Trading 1.6% Lower

An issue of Denbury Resources Inc. (NYSE:DNR) bonds fell 1.6% against their face value during trading on Wednesday. The high-yield issue of debt has a 5.5% coupon and will mature on May 1, 2022. The debt is now trading at $70.75 and was trading at $67.50 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

Several research analysts have commented on the stock. Royal Bank Of Canada set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a report on Friday, August 25th. KeyCorp reiterated a “hold” rating on shares of Denbury Resources in a report on Monday, November 13th. Zacks Investment Research upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Monday, August 14th. BidaskClub cut shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $1.00 price target on shares of Denbury Resources in a report on Friday, September 1st. Four 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 stock. Denbury Resources has an average rating of “Hold” and an average target price of $1.94.

Denbury Resources Inc. (NYSE DNR) opened at $1.74 on Thursday. Denbury Resources Inc. has a twelve month low of $0.92 and a twelve month high of $4.29. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53.

Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.05. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The business had revenue of $266.56 million during the quarter, compared to analysts’ expectations of $261.84 million. The company’s revenue was up 4.9% on a year-over-year basis. equities analysts expect that Denbury Resources Inc. will post 0.06 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of Denbury Resources by 0.4% in the 2nd quarter. Sei Investments Co. now owns 268,469 shares of the oil and natural gas company’s stock valued at $411,000 after buying an additional 1,059 shares in the last quarter. Texas Permanent School Fund boosted its holdings in shares of Denbury Resources by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 290,828 shares of the oil and natural gas company’s stock valued at $445,000 after buying an additional 2,568 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Denbury Resources by 1.3% in the 1st quarter. Teachers Advisors LLC now owns 616,101 shares of the oil and natural gas company’s stock valued at $1,590,000 after buying an additional 8,116 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Denbury Resources by 11.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock valued at $148,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in Denbury Resources by 4.6% in the 2nd quarter. Thrivent Financial For Lutherans now owns 236,150 shares of the oil and natural gas company’s stock valued at $361,000 after purchasing an additional 10,380 shares during the last quarter. Institutional investors and hedge funds own 80.27% of the company’s stock.

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About Denbury Resources

Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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