Denbury Resources Inc. (DNR) Trading Down 2.5%
Denbury Resources Inc. (NYSE:DNR)’s share price fell 2.5% during mid-day trading on Wednesday . The company traded as low as $3.01 and last traded at $3.06, with a volume of 3,640,067 shares trading hands. The stock had previously closed at $3.14.
A number of research firms have issued reports on DNR. Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $3.00 to $2.50 in a research report on Wednesday, August 10th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Tuesday, June 21st. Finally, Stifel Nicolaus upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. 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. The stock presently has an average rating of “Hold” and an average price target of $2.70.
The company has a 50 day moving average of $3.08 and a 200-day moving average of $3.07. The firm’s market cap is $1.13 billion.
Denbury Resources (NYSE:DNR) last posted its quarterly 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 earned $0.13 EPS. The company’s quarterly revenue was down 32.5% on a year-over-year basis. On average, equities research analysts expect that Denbury Resources Inc. will post ($0.01) EPS for the current fiscal year.
In related 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 transaction, the director now owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in Denbury Resources stock. Rhumbline Advisers increased its stake in Denbury Resources Inc. (NYSE:DNR) by 3.1% during the fourth quarter, according to its most recent 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 0.15% of Denbury Resources worth $1,040,000 at the end of the most recent 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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