TheStreet cut shares of Denbury Resources (NYSE:DNR) from a c- rating to a d+ rating in a report released on Friday morning.
DNR has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Denbury Resources from a buy rating to a hold rating in a research report on Tuesday, October 9th. Oppenheimer started coverage on shares of Denbury Resources in a research report on Wednesday, October 3rd. They issued an outperform rating and a $9.00 price objective on the stock. ValuEngine downgraded shares of Denbury Resources from a hold rating to a sell rating in a research report on Monday, July 16th. Royal Bank of Canada reaffirmed a hold rating and issued a $5.00 price objective on shares of Denbury Resources in a research report on Friday, July 13th. Finally, Johnson Rice raised shares of Denbury Resources from a hold rating to an accumulate rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $5.01.
Shares of Denbury Resources stock traded down $0.07 on Friday, reaching $3.46. The stock had a trading volume of 221,935 shares, compared to its average volume of 13,493,022. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 3.04. Denbury Resources has a 1 year low of $1.33 and a 1 year high of $6.75. The company has a market cap of $1.51 billion, a P/E ratio of 24.50 and a beta of 3.74.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Tuesday, August 7th. The oil and natural gas company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Denbury Resources had a net margin of 14.77% and a return on equity of 25.74%. The firm had revenue of $387.06 million for the quarter, compared to the consensus estimate of $328.72 million. As a group, equities research analysts forecast that Denbury Resources will post 0.47 EPS for the current fiscal year.
In other Denbury Resources news, CAO James S. Matthews sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $4.86, for a total transaction of $97,200.00. Following the sale, the chief accounting officer now owns 459,949 shares of the company’s stock, valued at approximately $2,235,352.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in DNR. Wells Fargo & Company MN grew its position in Denbury Resources by 7.4% during the 1st quarter. Wells Fargo & Company MN now owns 790,827 shares of the oil and natural gas company’s stock worth $2,167,000 after purchasing an additional 54,679 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Denbury Resources during the 1st quarter worth approximately $587,000. Jane Street Group LLC grew its position in Denbury Resources by 130.5% during the 1st quarter. Jane Street Group LLC now owns 92,578 shares of the oil and natural gas company’s stock worth $254,000 after purchasing an additional 52,416 shares during the last quarter. LPL Financial LLC grew its position in Denbury Resources by 33.5% during the 1st quarter. LPL Financial LLC now owns 54,094 shares of the oil and natural gas company’s stock worth $148,000 after purchasing an additional 13,577 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Denbury Resources by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 3,149,047 shares of the oil and natural gas company’s stock worth $8,628,000 after purchasing an additional 83,175 shares during the last quarter. 85.17% of the stock is currently owned by institutional investors.
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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