Denbury Resources Inc. (DNR) Short Interest Up 8.2% in September
Denbury Resources Inc. (NYSE:DNR) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 79,630,060 shares, an increase of 8.2% from the September 15th total of 73,591,656 shares. Based on an average daily volume of 12,675,277 shares, the short-interest ratio is currently 6.3 days. Approximately 20.4% of the company’s stock are short sold.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Barclays PLC lowered shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Finally, Mizuho began coverage on shares of Denbury Resources in a report on Wednesday, October 5th. They set a “neutral” rating and a $3.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $2.51.
Denbury Resources (NYSE:DNR) opened at 2.81 on Monday. The stock has a 50 day moving average of $3.02 and a 200 day moving average of $3.36. Denbury Resources has a 12-month low of $0.86 and a 12-month high of $4.80. The firm’s market capitalization is $1.04 billion.
Denbury Resources (NYSE:DNR) last posted its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.06. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. The company earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. During the same quarter last year, the firm earned $0.13 earnings per share. The company’s revenue was down 32.5% on a year-over-year basis. Equities research analysts anticipate 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 on 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 sale, the director now directly owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.86% of the company’s stock.
Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in Denbury Resources during the second quarter worth $7,140,000. Foundry Partners LLC purchased a new stake in Denbury Resources during the second quarter worth $2,678,000. BNP Paribas Arbitrage SA increased its stake in Denbury Resources by 100,706.4% in the second quarter. BNP Paribas Arbitrage SA now owns 173,387 shares of the company’s stock worth $622,000 after buying an additional 173,215 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Denbury Resources during the first quarter worth $184,000. Finally, Squarepoint Ops LLC increased its stake in Denbury Resources by 34.6% in the first quarter. Squarepoint Ops LLC now owns 549,037 shares of the company’s stock worth $1,219,000 after buying an additional 141,030 shares in the last quarter. 90.47% of the stock is owned by institutional investors.
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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