BidaskClub Downgrades Denbury Resources Inc. (DNR) to Sell

Denbury Resources Inc. (NYSE:DNR) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Monday.

DNR has been the topic of a number of other reports. Stifel Nicolaus restated a “hold” rating and issued a $2.50 target price on shares of Denbury Resources in a report on Friday, July 14th. ValuEngine cut Denbury Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BMO Capital Markets decreased their target price on Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating on the stock in a report on Friday, July 14th. Credit Suisse Group restated an “underperform” rating and issued a $2.00 target price on shares of Denbury Resources in a report on Friday, June 2nd. Finally, Zacks Investment Research cut Denbury Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Denbury Resources presently has an average rating of “Sell” and a consensus price target of $2.64.

Shares of Denbury Resources (NYSE:DNR) traded down 4.41% during mid-day trading on Monday, hitting $1.30. The company had a trading volume of 4,554,336 shares. The firm has a 50-day moving average of $1.48 and a 200-day moving average of $2.34. Denbury Resources has a 12 month low of $1.27 and a 12 month high of $4.29. The company’s market cap is $506.22 million.

Denbury Resources (NYSE:DNR) last issued its earnings results on Thursday, May 4th. The oil and natural gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.01. The company had revenue of $264 million during the quarter, compared to analyst estimates of $254.67 million. Denbury Resources had a positive return on equity of 2.49% and a negative net margin of 72.85%. The business’s revenue was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, analysts expect that Denbury Resources will post $0.04 EPS for the current year.

Hedge funds have recently modified their holdings of the company. OppenheimerFunds Inc. boosted its stake in shares of Denbury Resources by 499.0% in the first quarter. OppenheimerFunds Inc. now owns 310,368 shares of the oil and natural gas company’s stock valued at $801,000 after buying an additional 258,550 shares during the period. Alambic Investment Management L.P. purchased a new stake in Denbury Resources during the first quarter worth about $660,000. Norges Bank purchased a new stake in Denbury Resources during the fourth quarter worth about $25,138,000. First Trust Advisors LP purchased a new stake in Denbury Resources during the first quarter worth about $633,000. Finally, Russell Investments Group Ltd. purchased a new stake in Denbury Resources during the fourth quarter worth about $765,000. 91.07% of the stock is 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 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.