Denbury Resources Inc. (DNR) Stock Price Down 3.2%
Denbury Resources Inc. (NYSE:DNR) shares were down 3.2% during trading on Tuesday . The stock traded as low as $2.66 and last traded at $2.68, with a volume of 4,822,342 shares traded. The stock had previously closed at $2.77.
DNR has been the subject of several research analyst reports. Stifel Nicolaus upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research report on Tuesday, June 21st. Finally, Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $3.00 to $2.50 in a research report on Wednesday, August 10th. Two investment 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 presently has an average rating of “Hold” and an average price target of $2.70.
The stock’s 50-day moving average is $3.02 and its 200 day moving average is $3.31. The stock’s market capitalization is $970.88 million.
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Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. The business had revenue of $255.15 million for the quarter, compared to analyst estimates of $285.70 million. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. The firm’s revenue for the quarter was down 32.5% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. On average, equities research analysts expect that Denbury Resources Inc. will post ($0.01) earnings per share for the current fiscal year.
In related news, Director Greg Mcmichael sold 10,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the sale, the director now owns 89,379 shares in the company, valued at approximately $279,756.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Several hedge funds have recently bought and sold shares of DNR. Capital Research Global Investors raised its stake in Denbury Resources by 12.5% in the second quarter. Capital Research Global Investors now owns 37,158,795 shares of the company’s stock valued at $133,400,000 after buying an additional 4,143,160 shares in the last quarter. Vanguard Group Inc. raised its stake in Denbury Resources by 9.0% in the second quarter. Vanguard Group Inc. now owns 29,204,940 shares of the company’s stock valued at $104,845,000 after buying an additional 2,401,525 shares in the last quarter. State Street Corp raised its stake in Denbury Resources by 33.1% in the second quarter. State Street Corp now owns 22,391,214 shares of the company’s stock valued at $80,384,000 after buying an additional 5,571,940 shares in the last quarter. FMR LLC raised its stake in Denbury Resources by 3.3% in the second quarter. FMR LLC now owns 18,204,572 shares of the company’s stock valued at $65,354,000 after buying an additional 586,653 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Denbury Resources by 44.6% in the second quarter. BlackRock Fund Advisors now owns 18,196,413 shares of the company’s stock valued at $65,325,000 after buying an additional 5,616,332 shares in the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.
About Denbury Resources
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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