Denbury Resources Inc. (DNR) Stock Price Up 8.2%
Denbury Resources Inc. (NYSE:DNR)’s share price rose 8.2% on Thursday . The company traded as high as $3.35 and last traded at $3.31, with a volume of 6,845,215 shares. The stock had previously closed at $3.06.
DNR has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Denbury Resources from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Stifel Nicolaus raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $3.00 to $2.50 in a research report on Wednesday, August 10th. Finally, KeyCorp initiated coverage on shares of Denbury Resources in a research report on Tuesday, April 26th. They set a “sector weight” rating on the stock. Three research 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 an average target price of $2.70.
The firm’s 50-day moving average is $3.13 and its 200-day moving average is $3.00. The company’s market cap is $1.25 billion.
Denbury Resources (NYSE:DNR) last posted 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. During the same quarter in the previous year, the business posted $0.13 earnings per share. The company earned $255.15 million during the quarter, compared to analyst estimates of $285.70 million. The company’s revenue for the quarter was down 32.5% compared to the same quarter last year. Equities analysts anticipate that Denbury Resources Inc. will post ($0.04) earnings per share for the current year.
In other Denbury Resources news, Director Greg Mcmichael sold 10,000 shares of the firm’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $3.13, for a total value of $31,300.00. Following the completion of the sale, the director now directly owns 89,379 shares in the company, valued at $279,756.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Denbury Resources by 49.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,280,700 shares of the company’s stock worth $2,587,000 after buying an additional 426,300 shares in the last quarter. Russell Frank Co boosted its position 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. 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. Finally, 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.
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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