Denbury Resources Inc. (DNR) Given Average Rating of “Hold” by Analysts
Denbury Resources Inc. (NYSE:DNR) has been assigned an average recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.22.
A number of brokerages recently issued reports on DNR. Zacks Investment Research cut Denbury Resources from a “buy” rating to a “hold” rating in a report on Tuesday, October 9th. Oppenheimer began coverage on Denbury Resources in a report on Wednesday, October 3rd. They set an “outperform” rating and a $9.00 price objective on the stock. TheStreet raised Denbury Resources from a “d” rating to a “c-” rating in a report on Wednesday, August 22nd. ValuEngine raised Denbury Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Finally, KLR Group reissued a “hold” rating and set a $5.00 price objective on shares of Denbury Resources in a report on Monday, August 20th.
DNR traded up $0.03 during trading on Thursday, reaching $5.74. 93,368 shares of the company were exchanged, compared to its average volume of 10,734,940. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 41.00 and a beta of 3.38. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.43 and a current ratio of 0.43. Denbury Resources has a 12-month low of $1.04 and a 12-month high of $6.75.
In other Denbury Resources news, CAO James S. Matthews sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $4.86, for a total value of $97,200.00. Following the transaction, the chief accounting officer now directly owns 459,949 shares in the company, valued at approximately $2,235,352.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in DNR. Dimensional Fund Advisors LP increased its stake in Denbury Resources by 191.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,946,951 shares of the oil and natural gas company’s stock worth $35,475,000 after acquiring an additional 8,510,030 shares during the last quarter. BlackRock Inc. increased its position in shares of Denbury Resources by 8.4% during the 2nd quarter. BlackRock Inc. now owns 57,077,113 shares of the oil and natural gas company’s stock valued at $274,540,000 after purchasing an additional 4,411,023 shares during the last quarter. FMR LLC increased its position in shares of Denbury Resources by 17.6% during the 2nd quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock valued at $104,854,000 after purchasing an additional 3,266,213 shares during the last quarter. United Services Automobile Association increased its position in shares of Denbury Resources by 3,094.8% during the 2nd quarter. United Services Automobile Association now owns 1,989,670 shares of the oil and natural gas company’s stock valued at $21,966,000 after purchasing an additional 1,927,392 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Denbury Resources by 182.1% during the 2nd quarter. Wells Fargo & Company MN now owns 2,230,528 shares of the oil and natural gas company’s stock valued at $10,729,000 after purchasing an additional 1,439,701 shares during the last quarter. Institutional investors and hedge funds own 84.97% of the company’s stock.
About Denbury Resources
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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