An issue of Denbury Resources Inc. (NYSE:DNR) debt rose 1.6% as a percentage of its face value during trading on Friday. 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 $62.80 and were trading at $61.00 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of equities research analysts recently commented on DNR shares. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research report on Tuesday, October 10th. Royal Bank Of Canada set a $2.00 price objective on Denbury Resources and gave the company a “hold” rating in a research note on Friday, August 25th. BidaskClub downgraded Denbury Resources from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. KeyCorp restated a “hold” rating on shares of Denbury Resources in a research note on Wednesday, September 6th. Finally, Imperial Capital began coverage on Denbury Resources in a research note on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $1.94.
Shares of Denbury Resources Inc. (NYSE DNR) traded up $0.11 during trading hours on Friday, reaching $1.74. The company’s stock had a trading volume of 5,292,780 shares, compared to its average volume of 7,929,698. 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 Inc. has a 52-week low of $0.92 and a 52-week high of $4.29.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $266.56 million during the quarter, compared to the consensus estimate of $261.84 million. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. The business’s revenue was up 4.9% compared to the same quarter last year. equities analysts forecast that Denbury Resources Inc. will post 0.04 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System grew its stake in shares of Denbury Resources by 7.2% during the 3rd quarter. California Public Employees Retirement System now owns 3,485,073 shares of the oil and natural gas company’s stock worth $4,670,000 after acquiring an additional 233,475 shares during the period. Janus Henderson Group PLC grew its stake in shares of Denbury Resources by 778.1% during the 3rd 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. Schroder Investment Management Group bought a new position in shares of Denbury Resources during the 3rd quarter worth $184,000. LMR Partners LLP bought a new position in shares of Denbury Resources during the 3rd quarter worth $140,000. Finally, Macquarie Group Ltd. bought a new position in shares of Denbury Resources during the 3rd quarter worth $423,000. Institutional investors own 86.49% 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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