BidaskClub upgraded shares of Denbury Resources Inc. (NYSE:DNR) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
A number of other research analysts have also recently commented on DNR. UBS AG restated a sell rating and set a $1.50 price target (down previously from $2.00) on shares of Denbury Resources in a research note on Friday, May 5th. Credit Suisse Group restated an underperform rating and set a $2.00 price target on shares of Denbury Resources in a research note on Friday, June 2nd. ValuEngine cut shares of Denbury Resources from a hold rating to a sell rating in a research note on Friday, June 2nd. BMO Capital Markets cut their price target on shares of Denbury Resources from $2.00 to $1.00 and set a no rating at time rating for the company in a research note on Friday, July 14th. Finally, Stifel Nicolaus restated a hold rating and set a $2.50 price target on shares of Denbury Resources in a research note on Friday, July 14th. Six equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $2.64.
Denbury Resources (NYSE:DNR) traded up 6.15% during trading on Wednesday, hitting $1.38. The stock had a trading volume of 5,658,824 shares. The company’s market cap is $537.37 million. Denbury Resources has a 52 week low of $1.27 and a 52 week high of $4.29. The stock has a 50-day moving average price of $1.47 and a 200-day moving average price of $2.24.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, May 4th. The oil and natural gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. The business had revenue of $264 million for the quarter, compared to the consensus estimate of $254.67 million. Denbury Resources had a positive return on equity of 2.49% and a negative net margin of 72.85%. The firm’s revenue for the quarter was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. Equities analysts predict that Denbury Resources will post $0.01 EPS for the current year.
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Several hedge funds have recently bought and sold shares of DNR. Russell Investments Group Ltd. purchased a new stake in Denbury Resources during the fourth quarter valued at $765,000. Dimensional Fund Advisors LP raised its stake in Denbury Resources by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,462,003 shares of the oil and natural gas company’s stock valued at $12,741,000 after buying an additional 278,606 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Denbury Resources by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 67,910 shares of the oil and natural gas company’s stock worth $250,000 after buying an additional 5,760 shares in the last quarter. Norges Bank bought a new stake in shares of Denbury Resources during the fourth quarter worth $25,138,000. Finally, Highbridge Capital Management LLC raised its stake in shares of Denbury Resources by 341.4% in the fourth quarter. Highbridge Capital Management LLC now owns 78,121 shares of the oil and natural gas company’s stock worth $288,000 after buying an additional 60,421 shares in the last quarter. 90.28% of the stock is owned by institutional investors.
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.
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