An issue of Denbury Resources Inc. (NYSE:DNR) bonds rose 1% as a percentage of their face value during trading on Thursday. The debt issue has a 4.625% coupon and is set to mature on July 15, 2023. The bonds in the issue are now trading at $67.00 and were trading at $62.51 last week. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

DNR has been the subject of a number of recent analyst reports. BMO Capital Markets set a $1.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus set a $1.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Denbury Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Imperial Capital initiated coverage on shares of Denbury Resources in a research note on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 target price for the company. Finally, BidaskClub lowered shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $1.94.

Denbury Resources Inc. (NYSE:DNR) traded down $0.02 during trading hours on Thursday, reaching $1.72. 9,802,155 shares of the company were exchanged, compared to its average volume of 7,169,544. Denbury Resources Inc. has a 52 week low of $0.92 and a 52 week high of $4.29. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.91.

Denbury Resources (NYSE:DNR) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The company had revenue of $266.56 million during the quarter, compared to analyst estimates of $261.84 million. Denbury Resources’s revenue for the quarter was up 4.9% on a year-over-year basis. analysts predict that Denbury Resources Inc. will post 0.08 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in DNR. Dimensional Fund Advisors LP lifted its stake in Denbury Resources by 146.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,529,233 shares of the oil and natural gas company’s stock worth $22,004,000 after acquiring an additional 5,067,230 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Denbury Resources by 163.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock worth $10,162,000 after acquiring an additional 4,125,074 shares during the period. Janus Henderson Group PLC lifted its stake in Denbury Resources by 778.1% in the third quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock worth $4,211,000 after acquiring an additional 2,784,747 shares during the period. JPMorgan Chase & Co. raised its holdings in Denbury Resources by 24.5% in the second quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock worth $18,510,000 after purchasing an additional 2,382,134 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Denbury Resources in the second quarter worth about $769,000. 80.27% of the stock is owned by institutional investors.

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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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