Denbury Resources Inc. (DNR) Trading Up 5.5%
Denbury Resources Inc. (NYSE:DNR) shares were up 5.5% during mid-day trading on Thursday . The company traded as high as $2.94 and last traded at $2.90, with a volume of 6,518,649 shares trading hands. The stock had previously closed at $2.75.
A number of research analysts have issued reports on DNR shares. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Wednesday. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. KeyCorp assumed coverage on Denbury Resources in a research note on Tuesday, April 26th. They set a “sector weight” rating on the stock. Finally, Barclays PLC lowered Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $3.00 to $2.50 in a research note on Wednesday. Three equities 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’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $2.70.
The company’s market cap is $1.06 billion. The company has a 50-day moving average price of $3.30 and a 200-day moving average price of $2.94.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. During the same period last year, the company posted $0.13 EPS. The company had revenue of $255.15 million for the quarter, compared to analysts’ expectations of $285.70 million. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. On average, equities research analysts predict that Denbury Resources Inc. will post ($0.09) EPS for the current year.
Other institutional investors have made changes to their positions in the company. Rhumbline Advisers raised its position 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 in the last quarter. California State Teachers Retirement System raised its position in shares of Denbury Resources by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 682,479 shares of the company’s stock worth $1,379,000 after buying an additional 10,784 shares in the last quarter. Russell Frank Co raised 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. raised 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, California Public Employees Retirement System raised its position 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 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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