Denbury Resources Inc. (NYSE:DNR) fell 2.5% during mid-day 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 trading hands. The stock had previously closed at $3.23.

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

The stock’s 50-day moving average is $4.00 and its 200 day moving average is $2.73. The company’s market capitalization is $1.12 billion.

Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The company earned $194.80 million during the quarter, compared to analyst estimates of $274.69 million. During the same period in the prior year, the business posted $0.07 earnings per share. Denbury Resources’s revenue was down 36.7% on a year-over-year basis. On average, equities analysts expect that Denbury Resources Inc. will post ($0.14) earnings per share for the current year.

Other large investors recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted its stake in Denbury Resources by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 682,479 shares of the company’s stock valued at $1,379,000 after buying an additional 10,784 shares in the last quarter. Rhumbline Advisers boosted its stake in Denbury Resources by 3.1% in the fourth quarter. Rhumbline Advisers now owns 514,863 shares of the company’s stock valued at $1,040,000 after buying an additional 15,557 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Denbury Resources by 31.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,195,177 shares of the company’s stock valued at $2,414,000 after buying an additional 283,351 shares in the last quarter. Russell Frank Co boosted its stake in Denbury Resources by 23.4% in the fourth quarter. Russell Frank Co now owns 1,666,663 shares of the company’s stock valued at $3,284,000 after buying an additional 316,374 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Denbury Resources by 17.8% in the fourth quarter. California Public Employees Retirement System now owns 3,390,198 shares of the company’s stock valued at $6,848,000 after buying an additional 512,000 shares in the last quarter.

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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