Denbury Resources (DNR) Bond Prices Fall 2.6%

An issue of Denbury Resources Inc. (NYSE:DNR) debt fell 2.6% against its face value during trading on Tuesday. The high-yield issue of debt has a 5.5% coupon and is set to mature on May 1, 2022. The bonds in the issue are now trading at $86.00. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.

Several equities analysts have recently weighed in on the company. Imperial Capital reaffirmed an “outperform” rating and issued a $4.00 price objective on shares of Denbury Resources in a research note on Tuesday. ValuEngine raised Denbury Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. KLR Group reaffirmed a “hold” rating and issued a $5.00 price objective on shares of Denbury Resources in a research note on Monday, August 20th. Stifel Nicolaus lifted their price objective on Denbury Resources from $1.30 to $4.60 and gave the company a “hold” rating in a research note on Wednesday, August 1st. Finally, TheStreet raised Denbury Resources from a “d” rating to a “c-” rating in a research note on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Denbury Resources currently has a consensus rating of “Hold” and an average price target of $5.01.

Denbury Resources stock opened at $3.53 on Wednesday. The company has a market cap of $2.00 billion, a P/E ratio of 25.21 and a beta of 3.38. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 3.04. Denbury Resources Inc. has a one year low of $1.13 and a one year high of $6.75.

Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $387.06 million for the quarter, compared to analyst estimates of $328.72 million. Denbury Resources had a return on equity of 25.74% and a net margin of 14.77%. Sell-side analysts expect that Denbury Resources Inc. will post 0.47 EPS for the current year.

In related news, CAO James S. Matthews sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $4.86, for a total transaction of $97,200.00. Following the transaction, the chief accounting officer now directly owns 459,949 shares of the company’s stock, valued at approximately $2,235,352.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Everence Capital Management Inc. acquired a new position in Denbury Resources during the 2nd quarter worth approximately $117,000. Strs Ohio purchased a new stake in Denbury Resources during the 3rd quarter worth approximately $151,000. Advisor Partners LLC purchased a new stake in Denbury Resources during the 2nd quarter worth approximately $151,000. CIBC Private Wealth Group LLC increased its holdings in Denbury Resources by 41.5% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 40,900 shares of the oil and natural gas company’s stock worth $197,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Sigma Planning Corp purchased a new stake in Denbury Resources during the 2nd quarter worth approximately $256,000. 85.30% of the stock is currently owned by hedge funds and other institutional investors.

About Denbury Resources (NYSE:DNR)

Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

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