Denbury Resources Inc. (DNR) Bonds Trading 4.3% Higher
An issue of Denbury Resources Inc. (NYSE:DNR) debt rose 4.3% against its face value during trading on Monday. The high-yield debt issue has a 5.5% coupon and will mature on May 1, 2022. The bonds in the issue are now trading at $55.50 and were trading at $48.75 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus set a $1.00 price objective on shares of Denbury Resources and gave the stock a “hold” rating in a report on Friday, August 18th. Zacks Investment Research cut shares of Denbury Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. KeyCorp reiterated a “hold” rating on shares of Denbury Resources in a report on Wednesday, September 6th. BidaskClub cut shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Finally, Royal Bank Of Canada set a $2.00 price target on shares of Denbury Resources and gave the company a “hold” rating in a report on Friday, August 25th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.42.
Denbury Resources Inc. (NYSE DNR) traded up 12.40% during midday trading on Monday, reaching $1.36. 7,546,024 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $1.20 and a 200 day moving average price of $1.72. The company’s market cap is $530.27 million. Denbury Resources Inc. has a 52 week low of $0.91 and a 52 week high of $4.29.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. The company had revenue of $261.20 million during the quarter, compared to analyst estimates of $248.66 million. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. Denbury Resources’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. Analysts anticipate that Denbury Resources Inc. will post $0.02 EPS for the current year.
Hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its position in Denbury Resources by 15.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 5,900 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Denbury Resources by 77.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 78,166 shares of the oil and natural gas company’s stock valued at $119,000 after acquiring an additional 34,226 shares during the last quarter. Piedmont Investment Advisors LLC boosted its holdings in shares of Denbury Resources by 261.7% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock valued at $132,000 after acquiring an additional 62,312 shares during the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Denbury Resources during the 1st quarter valued at about $140,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Denbury Resources by 11.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock valued at $148,000 after acquiring an additional 10,000 shares during the last quarter. 86.44% of the stock is currently owned by institutional investors.
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Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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