Denbury Resources Inc. (NYSE:DNR) shares gapped up before the market opened on Friday . The stock had previously closed at $1.31, but opened at $1.26. Denbury Resources shares last traded at $1.21, with a volume of 247815 shares trading hands.
DNR has been the subject of several recent research reports. TheStreet downgraded Denbury Resources from a “c-” rating to a “d+” rating in a research note on Thursday, May 23rd. Imperial Capital set a $2.00 price objective on Denbury Resources and gave the company a “hold” rating in a research note on Thursday, March 28th. Oppenheimer reissued a “hold” rating on shares of Denbury Resources in a research note on Thursday, March 21st. Finally, Zacks Investment Research raised Denbury Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Denbury Resources presently has an average rating of “Hold” and a consensus target price of $4.36.
The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 2.40. The company has a market cap of $581.15 million, a PE ratio of 2.52 and a beta of 3.68.
Denbury Resources (NYSE:DNR) last posted its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. The firm had revenue of $305.40 million during the quarter, compared to analysts’ expectations of $314.49 million. Denbury Resources had a return on equity of 20.60% and a net margin of 18.06%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.12 earnings per share. Analysts expect that Denbury Resources Inc. will post 0.45 earnings per share for the current year.
In other Denbury Resources news, insider Christian S. Kendall bought 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was purchased at an average price of $2.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the insider now directly owns 1,751,765 shares in the company, valued at $3,503,530. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. South Dakota Investment Council acquired a new position in Denbury Resources during the fourth quarter worth approximately $658,000. Arizona State Retirement System boosted its position in Denbury Resources by 6.1% during the fourth quarter. Arizona State Retirement System now owns 709,236 shares of the oil and natural gas company’s stock worth $1,213,000 after purchasing an additional 41,020 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Denbury Resources by 21.2% during the fourth quarter. Bank of New York Mellon Corp now owns 6,639,414 shares of the oil and natural gas company’s stock worth $11,353,000 after purchasing an additional 1,161,038 shares in the last quarter. Norges Bank purchased a new stake in Denbury Resources during the fourth quarter worth $12,891,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in Denbury Resources during the fourth quarter worth $85,000. 80.09% of the stock is currently owned by institutional investors.
Denbury Resources Company Profile (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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