Denbury Resources Inc. (NYSE:DNR) shares traded down 5.2% during mid-day trading on Wednesday . The stock traded as low as $2.87 and last traded at $2.89, with a volume of 5,453,570 shares trading hands. The stock had previously closed at $3.05.

Several research analysts recently issued reports on the company. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research report on Tuesday, June 21st. KeyCorp initiated coverage on Denbury Resources in a research note on Tuesday, April 26th. They set a “sector weight” rating on the stock. Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Finally, Vetr downgraded Denbury Resources from a “strong-buy” rating to a “strong sell” rating and set a $1.90 price target 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 given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $2.81.

The firm’s market cap is $1.02 billion. The stock has a 50-day moving average price of $3.70 and a 200 day moving average price of $2.84.

Denbury Resources (NYSE:DNR) last announced 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 firm earned $194.80 million during the quarter, compared to the consensus estimate of $274.69 million. The business’s revenue was down 36.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 EPS. Analysts forecast that Denbury Resources Inc. will post ($0.12) EPS for the current fiscal year.

A number of hedge funds recently bought and sold shares of the company. Russell Frank Co raised 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. California State Teachers Retirement System raised 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 raised 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. California Public Employees Retirement System raised 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. Finally, OppenheimerFunds Inc. raised 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.

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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