Denbury Resources Inc. (DNR) Trading 1.7% Higher
Shares of Denbury Resources Inc. (NYSE:DNR) traded up 1.7% on Thursday . The company traded as high as $3.11 and last traded at $3.04, with a volume of 4,741,440 shares. The stock had previously closed at $2.99.
A number of analysts recently weighed in on the stock. Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Zacks Investment Research cut shares of Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Finally, Stifel Nicolaus raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. 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’s stock. Denbury Resources has a consensus rating of “Hold” and a consensus price target of $2.70.
The firm’s market capitalization is $1.14 billion. The firm’s 50-day moving average is $3.07 and its 200-day moving average is $3.08.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to analyst estimates of $285.70 million. The firm’s quarterly revenue was down 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. Equities research analysts expect that Denbury Resources Inc. will post ($0.01) earnings per share for the current year.
In other news, Director Greg Mcmichael sold 10,000 shares of the business’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 sale, the director now owns 89,379 shares in the company, valued at approximately $279,756.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
An institutional investor recently raised its position in Denbury Resources stock. Rhumbline Advisers boosted its stake in shares of Denbury Resources Inc. (NYSE:DNR) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the SEC.
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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