Denbury Resources Inc. (NYSE:DNR) shares dropped 3.2% during mid-day trading on Wednesday . The stock traded as low as $2.96 and last traded at $3.00, with a volume of 5,328,216 shares. The stock had previously closed at $3.10.

DNR has been the subject of several recent research reports. Zacks Investment Research raised shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research report on Wednesday, August 10th. Stifel Nicolaus raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Finally, Barclays PLC lowered shares of 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 report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $2.70.

The company’s market cap is $1.14 billion. The company’s 50 day moving average is $3.07 and its 200-day moving average is $3.14.

Denbury Resources (NYSE:DNR) last issued its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to the consensus estimate of $285.70 million. Denbury Resources’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 EPS. Equities analysts anticipate that Denbury Resources Inc. will post ($0.01) EPS for the current fiscal year.

In other news, Director Greg Mcmichael sold 10,000 shares of the 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 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 legal filing with the SEC, which is available at this link.

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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