Denbury Resources Inc. (NYSE:DNR) Given Consensus Recommendation of “Hold” by Brokerages
Denbury Resources Inc. (NYSE:DNR) has earned a consensus recommendation of “Hold” from the twelve research firms that are covering the company. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $2.79.
Several research firms have recently commented on DNR. Barclays PLC lowered Denbury Resources from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Zacks Investment Research lowered Denbury Resources from a “buy” rating to a “hold” rating in a research note on Monday, July 18th. Finally, Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th.
In other Denbury Resources news, Director Greg Mcmichael sold 10,000 shares of the stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the transaction, the director now owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.86% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNR. Clinton Group Inc. increased its position in Denbury Resources by 83.6% in the second quarter. Clinton Group Inc. now owns 28,493 shares of the company’s stock valued at $102,000 after buying an additional 12,970 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Denbury Resources during the second quarter valued at approximately $109,000. Oakbrook Investments LLC increased its position in Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock valued at $103,000 after buying an additional 12,800 shares during the period. World Asset Management Inc increased its position in Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock valued at $105,000 after buying an additional 1,829 shares during the period. Finally, Acrospire Investment Management LLC bought a new position in Denbury Resources during the second quarter valued at approximately $111,000. 90.47% of the stock is owned by institutional investors and hedge funds.
Shares of Denbury Resources (NYSE:DNR) opened at 3.23 on Tuesday. Denbury Resources has a 52 week low of $0.86 and a 52 week high of $4.80. The company’s market cap is $1.20 billion. The firm’s 50-day moving average price is $3.02 and its 200 day moving average price is $3.32.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.06. The firm had revenue of $255.15 million for the quarter, compared to analysts’ expectations of $285.70 million. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. The company’s revenue was down 32.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. On average, equities research analysts forecast that Denbury Resources will post ($0.01) EPS for the current year.
Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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