Denbury Resources Inc. (DNR) Shares Down 2.5%
Shares of Denbury Resources Inc. (NYSE:DNR) dropped 2.5% on Wednesday . The company traded as low as $3.01 and last traded at $3.06, with a volume of 3,640,067 shares. The stock had previously closed at $3.14.
DNR has been the topic of a number of research reports. Zacks Investment Research raised shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock 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. KeyCorp initiated coverage on shares of Denbury Resources in a research note on Tuesday, April 26th. They set a “sector weight” rating on the stock. Finally, Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Denbury Resources presently has an average rating of “Hold” and a consensus price target of $2.70.
The stock’s 50-day moving average is $3.09 and its 200-day moving average is $3.07. The stock’s market cap is $1.11 billion.
Denbury Resources (NYSE:DNR) last posted its earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The company earned $255.15 million during the quarter, compared to analysts’ expectations of $285.70 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was down 32.5% on a year-over-year basis. Equities research analysts expect that Denbury Resources Inc. will post ($0.01) EPS for the current year.
In other news, Director Greg Mcmichael sold 10,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Other 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 valued at $1,040,000 after buying an additional 15,557 shares in 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 during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Denbury Resources by 38.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,233,798 shares of the company’s stock worth $2,493,000 after buying an additional 343,679 shares during the 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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