Denbury Resources Target of Unusually Large Options Trading (DNR)
Shares of Denbury Resources (NYSE:DNR) was the target of unusually large options trading on Wednesday. Investors purchased 19,400 call options on the stock, StockRatingsNetwork.com reports. This represents an increase of approximately 841% compared to the average daily volume of 2,062 call options.
Several analysts have recently commented on the stock. Analysts at SunTrust downgraded shares of Denbury Resources from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Denbury Resources in a research note to investors on Monday, December 16th. They now have a $17.00 price target on the stock. Finally, analysts at KLR Group initiated coverage on shares of Denbury Resources in a research note to investors on Wednesday, December 11th. They set an “accumulate” rating on the stock. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Denbury Resources presently has a consensus rating of “Buy” and an average price target of $22.00.
Shares of Denbury Resources (NYSE:DNR) traded down 0.57% on Thursday, hitting $16.565. 2,595,210 shares of the company’s stock traded hands. Denbury Resources has a one year low of $15.62 and a one year high of $19.65. The stock’s 50-day moving average is $16.48 and its 200-day moving average is $17.57. The company has a market cap of $6.064 billion and a price-to-earnings ratio of 14.36.
Denbury Resources (NYSE:DNR) last announced its earnings results on Tuesday, November 5th. The company reported $0.45 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.39 by $0.06. The company had revenue of $674.00 million for the quarter, compared to the consensus estimate of $646.70 million. During the same quarter last year, the company posted $0.33 earnings per share. Denbury Resources’s revenue was up 13.1% compared to the same quarter last year. Analysts expect that Denbury Resources will post $1.53 EPS for the current fiscal year.
Denbury Resources Inc is an independent oil and natural gas company. As of December 31, 2011, the Company had 461.
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