Denbury Resources (DNR) Short Interest Up 9.1% in March
Denbury Resources (NYSE:DNR) was the target of a large increase in short interest during the month of March. As of March 29th, there was short interest totalling 76,450,428 shares, an increase of 9.1% from the March 15th total of 70,043,167 shares. Based on an average daily trading volume, of 10,330,128 shares, the days-to-cover ratio is currently 7.4 days. Currently, 19.3% of the company’s stock are sold short.
DNR opened at $2.96 on Tuesday. Denbury Resources has a twelve month low of $0.92 and a twelve month high of $3.23. The company has a debt-to-equity ratio of 4.60, a current ratio of 0.44 and a quick ratio of 0.44. The company has a market capitalization of $1,185.66, a P/E ratio of 21.14 and a beta of 3.13.
Denbury Resources (NYSE:DNR) last posted its earnings results on Thursday, February 22nd. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.05. Denbury Resources had a return on equity of 10.20% and a net margin of 14.44%. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $310.27 million. During the same period in the previous year, the company earned ($0.02) EPS. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. equities analysts expect that Denbury Resources will post 0.45 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of DNR. Janus Henderson Group PLC increased its position in Denbury Resources by 778.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock worth $4,211,000 after buying an additional 2,784,747 shares during the period. Millennium Management LLC increased its position in Denbury Resources by 314.1% in the 4th quarter. Millennium Management LLC now owns 3,410,876 shares of the oil and natural gas company’s stock worth $7,538,000 after buying an additional 2,587,244 shares during the period. BlackRock Inc. increased its position in Denbury Resources by 2.9% in the 4th quarter. BlackRock Inc. now owns 52,960,970 shares of the oil and natural gas company’s stock worth $117,044,000 after buying an additional 1,516,392 shares during the period. Two Sigma Investments LP bought a new position in Denbury Resources in the 4th quarter worth approximately $2,002,000. Finally, Teachers Advisors LLC increased its position in Denbury Resources by 56.9% in the 4th quarter. Teachers Advisors LLC now owns 1,519,835 shares of the oil and natural gas company’s stock worth $3,359,000 after buying an additional 551,399 shares during the period. 81.04% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on DNR. Mizuho upgraded Denbury Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th. Zacks Investment Research lowered Denbury Resources from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. UBS assumed coverage on Denbury Resources in a report on Wednesday, March 7th. They issued a “neutral” rating and a $2.50 target price for the company. ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Finally, Royal Bank of Canada restated a “hold” rating and issued a $2.00 target price on shares of Denbury Resources in a report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Denbury Resources currently has a consensus rating of “Hold” and a consensus target price of $1.82.
Denbury Resources Company Profile
Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
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