Shares of Denbury Resources Inc. (NYSE:DNR) fell 2.5% during trading on Thursday . The company traded as low as $3.10 and last traded at $3.15, with a volume of 7,939,734 shares changing hands. The stock had previously closed at $3.23.

A number of research firms recently commented on DNR. Vetr cut Denbury Resources from a “sell” rating to a “strong sell” rating and set a $1.90 price objective for the company. in a research report on Thursday, March 31st. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, June 21st. KeyCorp began coverage on Denbury Resources in a research report on Tuesday, April 26th. They set a “sector weight” rating for the company. Finally, Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $3.08.

The firm’s market capitalization is $1.08 billion. The firm has a 50-day moving average price of $4.02 and a 200-day moving average price of $2.72.

Denbury Resources (NYSE:DNR) last issued its earnings results on Thursday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.04. The firm earned $194.80 million during the quarter, compared to analysts’ expectations of $274.69 million. The business’s revenue was down 36.7% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. On average, equities research analysts forecast that Denbury Resources Inc. will post ($0.15) EPS for the current year.

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in shares of Denbury Resources by 3.1% in the fourth quarter. Rhumbline Advisers now owns 514,863 shares of the company’s stock worth $1,040,000 after buying an additional 15,557 shares during the period. California State Teachers Retirement System raised its position in shares of Denbury Resources by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 682,479 shares of the company’s stock worth $1,379,000 after buying an additional 10,784 shares during the period. OppenheimerFunds Inc. raised its position in shares of Denbury Resources by 31.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,195,177 shares of the company’s stock worth $2,414,000 after buying an additional 283,351 shares during the period. Principal Financial Group Inc. raised its position in shares of Denbury Resources by 10.2% in the fourth quarter. Principal Financial Group Inc. now owns 1,238,130 shares of the company’s stock worth $2,501,000 after buying an additional 114,144 shares during the period. Finally, Russell Frank Co raised its position in shares of Denbury Resources by 23.4% in the fourth quarter. Russell Frank Co now owns 1,666,663 shares of the company’s stock worth $3,284,000 after buying an additional 316,374 shares during the period.

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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