Denbury Resources Inc. (DNR) Short Interest Update
Denbury Resources Inc. (NYSE:DNR) was the target of a significant decline in short interest during the month of September. As of September 29th, there was short interest totalling 63,854,823 shares, a decline of 20.7% from the September 15th total of 80,484,459 shares. Based on an average daily trading volume, of 6,394,181 shares, the short-interest ratio is presently 10.0 days. Approximately 16.1% of the company’s stock are short sold.
Denbury Resources (NYSE DNR) opened at 1.21 on Monday. The firm’s market cap is $471.78 million. Denbury Resources has a 12-month low of $0.91 and a 12-month high of $4.29. The firm has a 50-day moving average of $1.23 and a 200-day moving average of $1.58.
Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.02. The business had revenue of $261.20 million during the quarter, compared to analyst estimates of $248.66 million. Denbury Resources had a negative return on equity of 1.94% and a negative net margin of 35.24%. Denbury Resources’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. On average, analysts expect that Denbury Resources will post $0.02 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of DNR. Cambridge Investment Research Advisors Inc. raised its stake in shares of Denbury Resources by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock valued at $113,000 after purchasing an additional 5,900 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Denbury Resources by 77.9% in the second quarter. State of Alaska Department of Revenue now owns 78,166 shares of the oil and natural gas company’s stock valued at $119,000 after purchasing an additional 34,226 shares in the last quarter. Piedmont Investment Advisors LLC raised its stake in shares of Denbury Resources by 261.7% in the second quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock valued at $132,000 after purchasing an additional 62,312 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Denbury Resources in the first quarter valued at $140,000. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Denbury Resources by 11.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock valued at $148,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 86.44% of the company’s stock.
A number of brokerages recently issued reports on DNR. Imperial Capital began coverage on shares of Denbury Resources in a research note on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 price target for the company. Stifel Nicolaus set a $1.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research note on Friday, August 18th. KeyCorp restated a “hold” rating on shares of Denbury Resources in a research note on Wednesday, September 6th. Zacks Investment Research lowered shares of Denbury Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $1.50 price target on shares of Denbury Resources in a research note on Friday, September 29th. Five investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. Denbury Resources has a consensus rating of “Hold” and an average target price of $2.06.
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About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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