Denbury Resources Inc. (DNR) Trading Down 4.5%
Denbury Resources Inc. (NYSE:DNR) fell 4.5% during trading on Thursday . The stock traded as low as $3.18 and last traded at $3.19, with a volume of 3,815,959 shares trading hands. The stock had previously closed at $3.34.
Several research firms have commented on DNR. KeyCorp began coverage on Denbury Resources in a research note on Tuesday, April 26th. They issued a “sector weight” rating on the stock. Stifel Nicolaus restated a “sell” rating on shares of Denbury Resources in a research note on Thursday, March 31st. Zacks Investment Research upgraded 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. Finally, Vetr cut Denbury Resources from a “strong-buy” rating to a “strong sell” rating and set a $1.90 target price on the stock. in a research note on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Denbury Resources presently has a consensus rating of “Hold” and a consensus price target of $3.08.
The firm’s 50 day moving average price is $3.84 and its 200-day moving average price is $2.79. The firm’s market cap is $1.09 billion.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, May 5th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.04. The business had revenue of $194.80 million for the quarter, compared to analyst estimates of $274.69 million. During the same period in the prior year, the business earned $0.07 EPS. The company’s revenue for the quarter was down 36.7% on a year-over-year basis. On average, equities analysts expect that Denbury Resources Inc. will post ($0.13) earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake 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 boosted its stake 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. boosted its stake 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. Russell Frank Co boosted its stake 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. Finally, Advisors Asset Management Inc. boosted its stake in shares of Denbury Resources by 49.5% in the fourth quarter. Advisors Asset Management Inc. now owns 2,048,440 shares of the company’s stock worth $4,138,000 after buying an additional 678,367 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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