Denbury Resources Inc. (DNR) Trading Up 5.5%
Denbury Resources Inc. (NYSE:DNR) shares were up 5.5% during trading on Thursday . The company traded as high as $2.94 and last traded at $2.90, with a volume of 6,518,649 shares trading hands. The stock had previously closed at $2.75.
A number of research analysts recently commented on DNR shares. Zacks Investment Research cut Denbury Resources from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Barclays PLC lowered shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $3.00 to $2.50 in a research report on Wednesday. Finally, KeyCorp assumed coverage on shares of Denbury Resources in a research report on Tuesday, April 26th. They set a “sector weight” rating for the company. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Denbury Resources has an average rating of “Hold” and a consensus target price of $2.70.
The stock’s market capitalization is $1.07 billion. The firm has a 50 day moving average price of $3.20 and a 200-day moving average price of $2.95.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. The company earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. The business’s revenue was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Equities research analysts predict that Denbury Resources Inc. will post ($0.09) EPS for the current year.
Other hedge funds recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of 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 in the last quarter. Rhumbline Advisers increased 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 worth $1,040,000 after buying an additional 15,557 shares in the last quarter. Russell Frank Co increased 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 worth $3,284,000 after buying an additional 316,374 shares in the last quarter. Advisors Asset Management Inc. increased 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 worth $4,138,000 after buying an additional 678,367 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake 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.
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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