Denbury Resources (DNR) Shares Gap Down to $2.35

Denbury Resources Inc. (NYSE:DNR) shares gapped down before the market opened on Friday . The stock had previously closed at $2.45, but opened at $2.35. Denbury Resources shares last traded at $2.29, with a volume of 13552694 shares changing hands.

DNR has been the topic of several analyst reports. Johnson Rice cut Denbury Resources from an “accumulate” rating to a “hold” rating in a research report on Tuesday, January 8th. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Thursday, January 10th. Oppenheimer reaffirmed a “hold” rating on shares of Denbury Resources in a research report on Thursday, March 21st. Finally, Imperial Capital set a $2.00 target price on Denbury Resources and gave the company a “hold” rating in a research report on Thursday, March 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.36.

The stock has a market cap of $1.05 billion, a PE ratio of 4.77 and a beta of 3.58. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.81 and a quick ratio of 0.81.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Wednesday, February 27th. The oil and natural gas company reported $0.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.01. Denbury Resources had a return on equity of 23.95% and a net margin of 21.90%. The business had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $329.65 million. During the same quarter in the previous year, the firm earned $0.12 earnings per share. The business’s revenue was up 4.7% on a year-over-year basis. On average, analysts predict that Denbury Resources Inc. will post 0.45 earnings per share for the current fiscal year.

In other Denbury Resources news, insider Christian S. Kendall acquired 150,000 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $2.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the insider now owns 1,751,765 shares in the company, valued at $3,503,530. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. LS Investment Advisors LLC boosted its position in Denbury Resources by 5.1% in the first quarter. LS Investment Advisors LLC now owns 90,058 shares of the oil and natural gas company’s stock worth $185,000 after purchasing an additional 4,352 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in Denbury Resources by 343.3% in the first quarter. Virginia Retirement Systems ET AL now owns 220,300 shares of the oil and natural gas company’s stock worth $452,000 after purchasing an additional 170,600 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Denbury Resources in the first quarter worth $72,000. Capital Investment Advisory Services LLC raised its stake in shares of Denbury Resources by 33.0% in the first quarter. Capital Investment Advisory Services LLC now owns 46,565 shares of the oil and natural gas company’s stock valued at $95,000 after buying an additional 11,550 shares during the period. Finally, Callahan Advisors LLC raised its stake in shares of Denbury Resources by 24.7% in the first quarter. Callahan Advisors LLC now owns 48,000 shares of the oil and natural gas company’s stock valued at $98,000 after buying an additional 9,500 shares during the period. 89.55% of the stock is currently owned by institutional investors and hedge funds.

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Denbury Resources Company Profile (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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