Denbury Resources Inc. (NYSE:DNR) shares were down 8.1% during trading on Wednesday . The company traded as low as $1.12 and last traded at $1.14. Approximately 15,430,941 shares were traded during trading, an increase of 26% from the average daily volume of 12,232,423 shares. The stock had previously closed at $1.24.
A number of research analysts recently commented on DNR shares. TheStreet downgraded shares of Denbury Resources from a “c-” rating to a “d+” rating in a research report on Thursday, May 23rd. Imperial Capital set a $2.00 price objective on shares of Denbury Resources and gave the company a “hold” rating in a research report on Thursday, March 28th. Oppenheimer reaffirmed a “hold” rating on shares of Denbury Resources in a research report on Thursday, March 21st. Finally, Zacks Investment Research raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $4.36.
The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $576.54 million, a P/E ratio of 2.38 and a beta of 3.67.
Denbury Resources (NYSE:DNR) last posted its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $305.40 million during the quarter, compared to the consensus estimate of $314.49 million. Denbury Resources had a net margin of 18.06% and a return on equity of 20.60%. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. On average, equities analysts anticipate that Denbury Resources Inc. will post 0.45 EPS for the current fiscal year.
In other Denbury Resources news, insider Christian S. Kendall bought 150,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was bought at an average cost of $2.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the insider now directly owns 1,751,765 shares of the company’s stock, valued at approximately $3,503,530. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Denbury Resources by 1.8% in the fourth quarter. BlackRock Inc. now owns 67,173,062 shares of the oil and natural gas company’s stock worth $114,867,000 after buying an additional 1,195,730 shares during the last quarter. Vanguard Group Inc raised its stake in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after purchasing an additional 2,706,664 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Denbury Resources by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 20,876,184 shares of the oil and natural gas company’s stock valued at $35,699,000 after purchasing an additional 853,975 shares during the last quarter. Norges Bank acquired a new position in Denbury Resources during the 4th quarter valued at $12,891,000. Finally, Encompass Capital Advisors LLC acquired a new position in Denbury Resources during the 1st quarter valued at $15,375,000. Institutional investors and hedge funds own 80.09% of the company’s stock.
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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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