Denbury Resources Inc. (DNR) Bond Prices Rise 4%
An issue of Denbury Resources Inc. (NYSE:DNR) bonds rose 4% against their face value during trading on Thursday. The high-yield debt issue has a 6.375% coupon and is set to mature on August 15, 2021. The debt is now trading at $63.00 and was trading at $60.75 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its share price.
A number of equities analysts have recently issued reports on the stock. Imperial Capital assumed coverage on shares of Denbury Resources in a research report on Tuesday. They set an “in-line” rating and a $2.00 price objective on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $1.50 price objective on shares of Denbury Resources in a research report on Friday, September 29th. KeyCorp reissued a “hold” rating on shares of Denbury Resources in a research report on Wednesday, September 6th. BMO Capital Markets reissued a “hold” rating and set a $1.00 price objective on shares of Denbury Resources in a research report on Friday, September 1st. Finally, BidaskClub cut shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $2.22.
Shares of Denbury Resources Inc. (NYSE DNR) traded up 2.90% during trading on Thursday, reaching $1.42. 3,651,398 shares of the company traded hands. The firm’s 50 day moving average is $1.18 and its 200-day moving average is $1.64. The stock’s market capitalization is $553.66 million. Denbury Resources Inc. has a 12-month low of $0.91 and a 12-month high of $4.29.
Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.02. The firm had revenue of $261.20 million for the quarter, compared to the consensus estimate of $248.66 million. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. On average, equities research analysts anticipate that Denbury Resources Inc. will post $0.02 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. 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 in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Denbury Resources in the first quarter worth approximately $140,000. Northwestern Mutual Investment Management Company LLC bought a new position in shares of Denbury Resources in the second quarter worth approximately $217,000. Virginia Retirement Systems ET AL lifted its stake in shares of Denbury Resources by 29.4% in the first quarter. Virginia Retirement Systems ET AL now owns 73,653 shares of the oil and natural gas company’s stock worth $190,000 after buying an additional 16,753 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Denbury Resources in the first quarter worth approximately $190,000. Hedge funds and other institutional investors own 86.44% 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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