Shares of Denbury Resources Inc. (NYSE:DNR) saw unusually-high trading volume on Monday . Approximately 9,905,743 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 9,330,077 shares.The stock last traded at $3.31 and had previously closed at $3.02.

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

The stock’s 50-day moving average is $3.39 and its 200 day moving average is $2.93. The firm’s market cap is $1.19 billion.

Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to analysts’ expectations of $285.70 million. During the same period in the prior year, the company posted $0.13 EPS. The firm’s revenue was down 32.5% on a year-over-year basis. On average, equities research analysts predict that Denbury Resources Inc. will post ($0.11) EPS for the current year.

A number of hedge funds have made changes to their positions in the stock. 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 valued at $4,138,000 after buying an additional 678,367 shares in the last quarter. California Public Employees Retirement System boosted its stake in shares of 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. 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 valued at $3,284,000 after buying an additional 316,374 shares in the last quarter. 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 valued at $2,414,000 after buying an additional 283,351 shares in the last quarter. Finally, 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 valued at $1,040,000 after buying an additional 15,557 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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