Denbury Resources Inc. (DNR) Shares Up 5.5%
Denbury Resources Inc. (NYSE:DNR) shot up 5.5% on Tuesday . The company traded as high as $3.07 and last traded at $3.06, with a volume of 3,594,244 shares traded. The stock had previously closed at $2.90.
A number of research firms recently weighed in on DNR. Zacks Investment Research cut Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Vetr cut Denbury Resources from a “sell” rating to a “strong sell” rating and set a $1.90 price target on the stock. in a report on Thursday, March 31st. KeyCorp began coverage on Denbury Resources in a report on Tuesday, April 26th. They issued a “sector weight” rating on the stock. Finally, Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.81.
The firm’s market cap is $1.06 billion. The firm has a 50-day moving average price of $3.74 and a 200 day moving average price of $2.83.
Denbury Resources (NYSE:DNR) last issued its quarterly 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 analyst estimates of $274.69 million. The firm’s revenue for the quarter was down 36.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. On average, equities research analysts expect that Denbury Resources Inc. will post ($0.12) earnings per share for the current year.
Several hedge funds and institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its position 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. OppenheimerFunds Inc. increased its position in 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 last quarter. California Public Employees Retirement System increased its position 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 worth $6,848,000 after buying an additional 512,000 shares during the last quarter. Rhumbline Advisers increased its position in 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 last quarter. Finally, California State Teachers Retirement System increased its position 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 worth $1,379,000 after buying an additional 10,784 shares during 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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