Denbury Resources Inc. (DNR) Trading Up 1.7%
Denbury Resources Inc. (NYSE:DNR)’s share price was up 1.7% during mid-day trading 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 equities analysts have recently issued reports on DNR shares. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research note on Wednesday, August 10th. Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Finally, Barclays PLC downgraded Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating, five have given 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 target price of $2.70.
The company’s 50 day moving average price is $3.08 and its 200-day moving average price is $3.07. The firm’s market cap is $1.13 billion.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results 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 in the previous year, the company posted $0.13 earnings per share. The business had revenue of $255.15 million for the quarter, compared to analyst estimates of $285.70 million. The business’s revenue for the quarter was down 32.5% on a year-over-year basis. Equities analysts predict 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 business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the sale, the director now directly owns 89,379 shares of the company’s stock, valued at $279,756.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Denbury Resources stock. Rhumbline Advisers increased its position 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 (SEC). 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 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.