Denbury Resources Inc. (DNR) Trading 8.2% Higher
Shares of Denbury Resources Inc. (NYSE:DNR) traded up 8.2% during mid-day trading on Thursday . The stock traded as high as $3.35 and last traded at $3.31, with a volume of 6,845,215 shares trading hands. The stock had previously closed at $3.06.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Wednesday, August 10th. Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $3.00 to $2.50 in a research note on Wednesday, August 10th. 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 assumed coverage on shares of Denbury Resources in a research note on Tuesday, April 26th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.70.
The firm has a 50-day moving average price of $3.10 and a 200-day moving average price of $3.02. The company’s market capitalization is $1.17 billion.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The company earned $255.15 million during the quarter, compared to analyst estimates 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 last year, the business earned $0.13 EPS. Equities analysts expect that Denbury Resources Inc. will post ($0.03) earnings per share for the current fiscal year.
In other Denbury Resources news, Director Greg Mcmichael sold 10,000 shares of Denbury Resources stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the transaction, the director now owns 89,379 shares in the company, valued at $279,756.27. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
An institutional investor recently raised its position in Denbury Resources stock. Rhumbline Advisers raised its position in Denbury Resources Inc. (NYSE:DNR) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 514,863 shares of the company’s stock after buying an additional 15,557 shares during the period. Rhumbline Advisers owned about 0.15% of Denbury Resources worth $1,040,000 at the end of the most recent reporting 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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