Denbury Resources Inc. (DNR) Receives New Coverage from Analysts at Mizuho
Mizuho initiated coverage on shares of Denbury Resources Inc. (NYSE:DNR) in a research report sent to investors on Wednesday. The brokerage issued a neutral rating and a $3.00 price target on the stock.
DNR has been the topic of several other reports. Zacks Investment Research raised shares of Denbury Resources from a hold rating to a buy rating and set a $3.25 price target on the stock in a research note on Wednesday, August 10th. Stifel Nicolaus raised shares of Denbury Resources from a sell rating to a hold rating in a research note on Wednesday, June 15th. Finally, Barclays PLC cut shares of Denbury Resources from an equal weight rating to an underweight rating and decreased their price target for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Denbury Resources has an average rating of Hold and an average target price of $2.72.
Shares of Denbury Resources (NYSE:DNR) traded up 0.769% during trading on Wednesday, reaching $3.275. 5,909,415 shares of the company’s stock were exchanged. Denbury Resources has a 52 week low of $0.86 and a 52 week high of $4.80. The stock’s market capitalization is $1.21 billion. The stock has a 50 day moving average price of $3.04 and a 200-day moving average price of $3.34.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.08 EPS for the quarter, beating the Zacks’ 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 negative net margin of 361.13% and a positive return on equity of 6.04%. The firm’s revenue was down 32.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. Analysts predict that Denbury Resources will post ($0.01) earnings per share for the current year.
In related news, Director Greg Mcmichael sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $3.13, for a total value of $31,300.00. Following the transaction, the director now owns 89,379 shares in the company, valued at $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.86% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of DNR. Clinton Group Inc. raised its stake in Denbury Resources by 83.6% in the second quarter. Clinton Group Inc. now owns 28,493 shares of the company’s stock worth $102,000 after buying an additional 12,970 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Denbury Resources during the second quarter worth about $109,000. Oakbrook Investments LLC raised its stake in Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock worth $103,000 after buying an additional 12,800 shares in the last quarter. World Asset Management Inc raised its stake in Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock worth $105,000 after buying an additional 1,829 shares in the last quarter. Finally, Acrospire Investment Management LLC purchased a new stake in Denbury Resources during the second quarter worth about $111,000. Hedge funds and other institutional investors own 90.47% of the company’s stock.
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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