Denbury Resources Inc. (DNR) Trading Up 10%
Shares of Denbury Resources Inc. (NYSE:DNR) were up 10% on Friday . The stock traded as high as $3.19 and last traded at $3.18, with a volume of 8,407,855 shares changing hands. The stock had previously closed at $2.89.
Several research firms recently commented on DNR. Zacks Investment Research raised shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a report on Wednesday, August 10th. Stifel Nicolaus raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Finally, Barclays PLC lowered shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $3.00 to $2.50 in a report on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating, five have given 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 target price of $2.70.
The company’s market cap is $1.19 billion. The firm’s 50 day moving average price is $3.04 and its 200 day moving average price is $3.14.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.02 by $0.06. During the same period last year, the firm posted $0.13 EPS. The company earned $255.15 million during the quarter, compared to analysts’ expectations of $285.70 million. Denbury Resources’s quarterly revenue was down 32.5% compared to the same quarter last year. On average, equities research analysts forecast that Denbury Resources Inc. will post ($0.01) earnings per share for the current fiscal 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 value of $31,300.00. Following the transaction, the director now owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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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