Denbury Resources Inc. (DNR) Stock Price Up 2.7%
Shares of Denbury Resources Inc. (NYSE:DNR) rose 2.7% during trading on Wednesday . The stock traded as high as $2.76 and last traded at $2.69, with a volume of 6,790,878 shares trading hands. The stock had previously closed at $2.62.
DNR has been the topic of several recent analyst reports. Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Tuesday, June 21st. Finally, Barclays PLC downgraded Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Denbury Resources has a consensus rating of “Hold” and an average target price of $2.70.
The company’s market cap is $1.03 billion. The company has a 50-day moving average price of $3.02 and a 200 day moving average price of $3.30.
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Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.06. The company earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. Denbury Resources’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Equities analysts anticipate that Denbury Resources Inc. will post ($0.01) earnings per share for the current year.
In other news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $3.13, for a total transaction of $31,300.00. Following the transaction, the director now directly owns 89,379 shares of the company’s stock, valued at $279,756.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.86% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co. NY increased its position in shares of Denbury Resources by 2.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 318,123 shares of the company’s stock worth $706,000 after buying an additional 8,695 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Denbury Resources by 4.3% in the first quarter. Geode Capital Management LLC now owns 2,193,889 shares of the company’s stock worth $4,870,000 after buying an additional 90,111 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Denbury Resources by 81.0% in the first quarter. UBS Asset Management Americas Inc. now owns 924,772 shares of the company’s stock worth $2,052,000 after buying an additional 413,726 shares during the last quarter. UBS Group AG increased its position in shares of Denbury Resources by 3,483.2% in the first quarter. UBS Group AG now owns 693,020 shares of the company’s stock worth $1,538,000 after buying an additional 673,679 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Denbury Resources by 11.6% in the first quarter. Canada Pension Plan Investment Board now owns 1,870,130 shares of the company’s stock worth $4,152,000 after buying an additional 194,479 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.
Denbury Resources Company Profile
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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