Denbury Resources Inc. (DNR) Trading Down 3.1%
Denbury Resources Inc. (NYSE:DNR)’s share price dropped 3.1% during trading on Tuesday . The stock traded as low as $3.07 and last traded at $3.10, with a volume of 8,269,411 shares trading hands. The stock had previously closed at $3.20.
DNR has been the subject of several recent research reports. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. KeyCorp assumed coverage on Denbury Resources in a report on Tuesday, April 26th. They issued a “sector weight” rating for the company. Finally, Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a report on Tuesday, June 21st. Two research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $2.81.
The company’s 50 day moving average price is $3.35 and its 200 day moving average price is $2.94. The company’s market capitalization is $1.12 billion.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to the consensus estimate of $285.70 million. The firm’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 EPS. Analysts forecast that Denbury Resources Inc. will post ($0.10) earnings per share for the current fiscal year.
Other hedge funds and institutional investors have made changes to their positions in the company. Bridgewater Associates LP boosted its position in shares of Denbury Resources by 41.4% in the fourth quarter. Bridgewater Associates LP now owns 5,023,388 shares of the company’s stock worth $10,147,000 after buying an additional 1,470,325 shares in the last quarter. Advisors Asset Management Inc. boosted 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 in the last quarter. OppenheimerFunds Inc. boosted its position 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 in the last quarter. California Public Employees Retirement System boosted its position 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 worth $6,848,000 after buying an additional 512,000 shares in the last quarter. Finally, Rhumbline Advisers boosted its position 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.