Denbury Resources Inc. (DNR) Trading 5.5% Higher
Denbury Resources Inc. (NYSE:DNR)’s share price traded up 5.5% on Tuesday . The stock traded as high as $3.07 and last traded at $3.06, with a volume of 3,594,244 shares. The stock had previously closed at $2.90.
Several equities analysts have weighed in on the company. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price target for the company in a research report on Tuesday, June 21st. KeyCorp assumed coverage on Denbury Resources in a research report on Tuesday, April 26th. They set a “sector weight” rating for the company. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Finally, Vetr downgraded Denbury Resources from a “strong-buy” rating to a “strong sell” rating and set a $1.90 price target for the company. in a research report on Thursday, April 7th. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $2.81.
The stock’s 50 day moving average price is $3.66 and its 200-day moving average price is $2.84. The stock’s market capitalization is $1.01 billion.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, May 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.04. The firm earned $194.80 million during the quarter, compared to analysts’ expectations of $274.69 million. The company’s revenue was down 36.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. On average, analysts forecast that Denbury Resources Inc. will post ($0.12) EPS for the current year.
Other large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in Denbury Resources by 49.5% in the fourth quarter. Advisors Asset Management Inc. now owns 2,048,440 shares of the company’s stock valued at $4,138,000 after buying an additional 678,367 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Denbury Resources by 17.8% in the fourth quarter. California Public Employees Retirement System now owns 3,390,198 shares of the company’s stock worth $6,848,000 after buying an additional 512,000 shares during the period. Russell Frank Co raised 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 during the period. OppenheimerFunds Inc. raised its stake in shares of Denbury Resources by 31.1% in the fourth quarter. OppenheimerFunds Inc. now owns 1,195,177 shares of the company’s stock worth $2,414,000 after buying an additional 283,351 shares during the period. Finally, Rhumbline Advisers raised 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 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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