Denbury Resources Inc. (DNR) Bond Prices Fall 1.1%
An issue of Denbury Resources Inc. (NYSE:DNR) bonds fell 1.1% against their face value during trading on Tuesday. The debt issue has a 9% coupon and is set to mature on May 15, 2021. The debt is now trading at $90.75 and was trading at $89.75 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.
A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Denbury Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research note on Friday, August 25th. BMO Capital Markets cut their price target on shares of Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating on the stock in a research note on Friday, July 14th. BidaskClub raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a $2.00 price target on shares of Denbury Resources in a research note on Friday, June 2nd. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $2.42.
Denbury Resources Inc. (NYSE DNR) traded up 1.89% during midday trading on Tuesday, reaching $1.08. 7,098,482 shares of the company were exchanged. Denbury Resources Inc. has a one year low of $0.91 and a one year high of $4.29. The firm’s market cap is $421.10 million. The firm’s 50-day moving average is $1.24 and its 200-day moving average is $1.79.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.02. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The business had revenue of $261.20 million during the quarter, compared to analysts’ expectations of $248.66 million. During the same period in the previous year, the company earned $0.08 earnings per share. Denbury Resources’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts expect that Denbury Resources Inc. will post $0.02 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of DNR. State of Alaska Department of Revenue acquired a new stake in shares of Denbury Resources in the first quarter worth $113,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Denbury Resources by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock worth $113,000 after buying an additional 5,900 shares during the last quarter. Piedmont Investment Advisors LLC lifted its stake in shares of Denbury Resources by 261.7% in the second quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock worth $132,000 after buying an additional 62,312 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in shares of Denbury Resources in the first quarter worth $140,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Denbury Resources by 11.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock worth $148,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 86.45% of the company’s stock.
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Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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