Johnson Rice Reiterates Hold Rating for Denbury Resources Inc. (DNR)
Denbury Resources Inc. (NYSE:DNR)‘s stock had its “hold” rating reissued by equities researchers at Johnson Rice in a research report issued to clients and investors on Tuesday.
A number of other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Monday, July 18th. Barclays PLC downgraded shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $3.00 to $2.50 in a research report on Wednesday, August 10th. Finally, Mizuho initiated coverage on shares of Denbury Resources in a research report on Wednesday, October 5th. They set a “neutral” rating and a $3.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $2.51.
Denbury Resources (NYSE:DNR) traded down 1.08% during mid-day trading on Tuesday, reaching $2.74. 4,075,683 shares of the company were exchanged. Denbury Resources has a one year low of $0.86 and a one year high of $4.80. The stock has a 50-day moving average price of $3.01 and a 200 day moving average price of $3.38. The company’s market capitalization is $1.02 billion.
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Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.06. The business had revenue of $255.15 million for 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%. The company’s quarterly revenue was down 32.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.13 EPS. Analysts predict that Denbury Resources will post ($0.01) EPS for the current year.
In other news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the sale, the director now owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Clinton Group Inc. raised its stake in Denbury Resources by 83.6% in the second quarter. Clinton Group Inc. now owns 28,493 shares of the company’s stock valued at $102,000 after buying an additional 12,970 shares in the last quarter. Oakbrook Investments LLC raised its stake in Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock valued at $103,000 after buying an additional 12,800 shares in the last quarter. World Asset Management Inc raised its stake in Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock valued at $105,000 after buying an additional 1,829 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Denbury Resources during the second quarter valued at about $109,000. Finally, Acrospire Investment Management LLC purchased a new stake in Denbury Resources during the second quarter valued at about $111,000. 90.47% of the stock is owned by hedge funds and other institutional investors.
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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