Denbury Resources Inc. (NYSE:DNR) was the recipient of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 59,342,248 shares, a growth of 6.1% from the October 31st total of 55,920,645 shares. Approximately 13.0% of the company’s shares are sold short. Based on an average daily volume of 17,690,702 shares, the days-to-cover ratio is currently 3.4 days.
Hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC purchased a new position in Denbury Resources during the second quarter worth about $1,379,000. Sigma Planning Corp purchased a new position in Denbury Resources during the second quarter worth about $256,000. FMR LLC boosted its stake in Denbury Resources by 17.6% during the second quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock worth $104,854,000 after buying an additional 3,266,213 shares during the period. SG Americas Securities LLC boosted its stake in Denbury Resources by 294.0% during the second quarter. SG Americas Securities LLC now owns 101,712 shares of the oil and natural gas company’s stock worth $489,000 after buying an additional 75,898 shares during the period. Finally, EAM Global Investors LLC purchased a new position in Denbury Resources during the second quarter worth about $1,156,000. 93.35% of the stock is owned by institutional investors.
DNR has been the subject of a number of analyst reports. Johnson Rice raised shares of Denbury Resources from a “hold” rating to an “accumulate” rating in a report on Wednesday, August 15th. KLR Group reissued a “hold” rating and issued a $5.00 price objective on shares of Denbury Resources in a report on Monday, August 20th. ValuEngine raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. TheStreet raised shares of Denbury Resources from a “d” rating to a “c-” rating in a report on Wednesday, August 22nd. Finally, Oppenheimer initiated coverage on shares of Denbury Resources in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $9.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.84.
Shares of DNR stock opened at $2.26 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.80. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 16.14 and a beta of 3.74. Denbury Resources has a 1-year low of $1.53 and a 1-year high of $6.75.
Denbury Resources (NYSE:DNR) last announced its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company had revenue of $395.00 million during the quarter, compared to analyst estimates of $348.39 million. Denbury Resources had a net margin of 18.81% and a return on equity of 27.79%. Denbury Resources’s revenue was up 48.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.04 earnings per share. Equities research analysts anticipate that Denbury Resources will post 0.48 earnings per share for the current fiscal year.
Denbury Resources Company Profile
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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