Denbury Resources Inc. (NYSE:DNR) shares dropped 3.2% during 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 research reports. Zacks Investment Research cut Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Barclays PLC cut Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price objective for the company 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 given 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 stock’s market capitalization is $1.17 billion. The company has a 50 day moving average price of $3.04 and a 200 day moving average price of $3.14.

Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.06. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company had revenue of $255.15 million for the quarter, compared to the consensus estimate of $285.70 million. The business’s revenue was down 32.5% compared to the same quarter last year. Equities research analysts anticipate 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 company’s stock in a transaction 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 sale, the director now directly owns 89,379 shares in the company, valued at approximately $279,756.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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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