Shares of Denbury Resources Inc. (NYSE:DNR) were up 8% during mid-day trading on Monday . The company traded as high as $3.59 and last traded at $3.53. Approximately 14,830,855 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 10,989,879 shares. The stock had previously closed at $3.27.
A number of analysts have issued reports on DNR shares. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Friday, July 20th. ValuEngine lowered shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday. TheStreet raised shares of Denbury Resources from a “d” rating to a “c-” rating in a research report on Wednesday, August 22nd. KLR Group reissued a “hold” rating and issued a $5.00 price target on shares of Denbury Resources in a research report on Monday, August 20th. Finally, Oppenheimer reissued a “buy” rating on shares of Denbury Resources in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Denbury Resources currently has an average rating of “Hold” and an average price target of $5.01.
The stock has a market cap of $1.51 billion, a P/E ratio of 25.21 and a beta of 3.74. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.04.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. Denbury Resources had a net margin of 14.77% and a return on equity of 25.74%. The company had revenue of $387.06 million for the quarter, compared to analyst estimates of $328.72 million. On average, equities analysts anticipate that Denbury Resources Inc. will post 0.47 earnings per share for the current fiscal year.
In other news, CAO James S. Matthews sold 20,000 shares of Denbury Resources stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the transaction, the chief accounting officer now owns 459,949 shares of the company’s stock, valued at $2,235,352.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in DNR. Wells Fargo & Company MN increased its position in Denbury Resources by 7.4% during the first quarter. Wells Fargo & Company MN now owns 790,827 shares of the oil and natural gas company’s stock worth $2,167,000 after acquiring an additional 54,679 shares during the period. Russell Investments Group Ltd. bought a new position in Denbury Resources during the first quarter worth $587,000. Jane Street Group LLC increased its position in Denbury Resources by 130.5% during the first quarter. Jane Street Group LLC now owns 92,578 shares of the oil and natural gas company’s stock worth $254,000 after acquiring an additional 52,416 shares during the period. LPL Financial LLC increased its position in Denbury Resources by 33.5% during the first quarter. LPL Financial LLC now owns 54,094 shares of the oil and natural gas company’s stock worth $148,000 after acquiring an additional 13,577 shares during the period. Finally, Millennium Management LLC increased its position in Denbury Resources by 29.5% during the first quarter. Millennium Management LLC now owns 4,416,547 shares of the oil and natural gas company’s stock worth $12,101,000 after acquiring an additional 1,005,671 shares during the period. 85.17% of the stock is currently owned by institutional investors and hedge funds.
About Denbury Resources (NYSE:DNR)
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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