Denbury Resources Inc. (NYSE:DNR) shares shot up 4.2% during mid-day trading on Monday . The company traded as high as $4.87 and last traded at $4.53. 463,654 shares were traded during trading, a decline of 96% from the average session volume of 10,981,030 shares. The stock had previously closed at $4.73.
A number of brokerages have recently issued reports on DNR. KLR Group cut Denbury Resources from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research note on Monday, May 14th. Zacks Investment Research cut Denbury Resources from a “buy” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, UBS Group began coverage on Denbury Resources in a research note on Wednesday, March 7th. They set a “neutral” rating and a $2.50 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $2.29.
The company has a market cap of $2.08 billion, a PE ratio of 33.50 and a beta of 3.20. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 4.24.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $347.57 million for the quarter, compared to analysts’ expectations of $324.65 million. Denbury Resources had a return on equity of 19.63% and a net margin of 15.01%. The company’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) earnings per share. equities analysts predict that Denbury Resources Inc. will post 0.37 EPS for the current fiscal year.
In other news, Director Greg Mcmichael sold 40,000 shares of the stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $4.25, for a total transaction of $170,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Laura A. Sugg sold 12,500 shares of the stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $3.00, for a total transaction of $37,500.00. Following the sale, the director now owns 140,841 shares of the company’s stock, valued at $422,523. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,000 shares of company stock valued at $327,625. 1.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of DNR. Dimensional Fund Advisors LP boosted its holdings in shares of Denbury Resources by 191.8% during the first quarter. Dimensional Fund Advisors LP now owns 12,946,951 shares of the oil and natural gas company’s stock worth $35,475,000 after purchasing an additional 8,510,030 shares during the period. Millennium Management LLC boosted its holdings in shares of Denbury Resources by 314.1% during the fourth quarter. Millennium Management LLC now owns 3,410,876 shares of the oil and natural gas company’s stock worth $7,538,000 after purchasing an additional 2,587,244 shares during the period. LSV Asset Management purchased a new stake in Denbury Resources in the first quarter worth about $6,551,000. BlackRock Inc. lifted its holdings in Denbury Resources by 2.9% in the fourth quarter. BlackRock Inc. now owns 52,960,970 shares of the oil and natural gas company’s stock worth $117,044,000 after buying an additional 1,516,392 shares during the period. Finally, Two Sigma Investments LP purchased a new stake in Denbury Resources in the fourth quarter worth about $2,002,000. Institutional investors own 78.28% of the company’s stock.
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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