Denbury Resources Inc. (DNR) Stock Price Up 10%
Denbury Resources Inc. (NYSE:DNR)’s share price rose 10% during mid-day trading on Friday . The company traded as high as $3.19 and last traded at $3.18, with a volume of 8,407,855 shares. The stock had previously closed at $2.89.
Several equities research analysts recently weighed in on DNR shares. Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Tuesday, June 21st. Finally, Barclays PLC cut Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.70.
The stock has a 50-day moving average of $3.04 and a 200 day moving average of $3.14. The stock’s market capitalization is $1.19 billion.
Denbury Resources (NYSE:DNR) last announced its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to analysts’ expectations of $285.70 million. The firm’s quarterly revenue was down 32.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. On average, equities research analysts expect that Denbury Resources Inc. will post ($0.01) earnings per share for the current fiscal year.
In other Denbury Resources news, Director Greg Mcmichael sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the transaction, the director now owns 89,379 shares in the company, valued at $279,756.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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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