Denbury Resources Inc. (NYSE:DNR)’s share price dropped 4.4% during mid-day trading on Tuesday . The stock traded as low as $2.58 and last traded at $2.60, with a volume of 6,249,374 shares trading hands. The stock had previously closed at $2.72.

DNR has been the subject of several recent research reports. Stifel Nicolaus upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. KeyCorp initiated coverage on shares of Denbury Resources in a research report on Tuesday, April 26th. They issued a “sector weight” rating for the company. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, June 21st. Finally, Vetr cut shares of Denbury Resources from a “strong-buy” rating to a “strong sell” rating and set a $1.90 price target for the company. in a research report on Thursday, April 7th. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $2.81.

The company’s market cap is $923.64 million. The stock has a 50-day moving average of $3.51 and a 200 day moving average of $2.89.

Denbury Resources (NYSE:DNR) last announced its earnings results on Thursday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.04. During the same quarter in the previous year, the firm earned $0.07 earnings per share. The company had revenue of $194.80 million for the quarter, compared to the consensus estimate of $274.69 million. The company’s revenue for the quarter was down 36.7% compared to the same quarter last year. On average, equities research analysts predict that Denbury Resources Inc. will post ($0.12) EPS for the current year.

A number of large investors recently made changes to their positions in DNR. Advisors Asset Management Inc. raised 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 valued at $4,138,000 after buying an additional 678,367 shares during the last quarter. 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 valued at $2,414,000 after buying an additional 283,351 shares during the period. 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 valued at $6,848,000 after buying an additional 512,000 shares during the period. 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 valued at $1,040,000 after buying an additional 15,557 shares during the period. 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 valued at $1,379,000 after buying an additional 10,784 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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