Denbury Resources Inc. (DNR) Debt Trading 1.6% Higher

An issue of Denbury Resources Inc. (NYSE:DNR) bonds rose 1.6% as a percentage of their face value during trading on Friday. The high-yield issue of debt has a 9% coupon and will mature on May 15, 2021. The debt is now trading at $98.31 and was trading at $97.50 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

Several equities research analysts have recently commented on DNR shares. ValuEngine cut shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. BidaskClub upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Stifel Nicolaus set a $1.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Friday, August 18th. Finally, Royal Bank Of Canada set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Friday, August 25th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Denbury Resources has a consensus rating of “Hold” and an average price target of $1.94.

Shares of Denbury Resources Inc. (NYSE DNR) traded up $0.03 during midday trading on Friday, reaching $1.80. 2,486,049 shares of the company were exchanged, compared to its average volume of 7,033,037. 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 issued its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $266.56 million during the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. equities research analysts predict that Denbury Resources Inc. will post 0.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California Public Employees Retirement System grew its holdings in Denbury Resources by 7.2% during the third quarter. California Public Employees Retirement System now owns 3,485,073 shares of the oil and natural gas company’s stock valued at $4,670,000 after purchasing an additional 233,475 shares during the period. Janus Henderson Group PLC grew its holdings in Denbury Resources by 778.1% during the third quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock valued at $4,211,000 after purchasing an additional 2,784,747 shares during the period. Schroder Investment Management Group acquired a new position in Denbury Resources during the third quarter valued at approximately $184,000. LMR Partners LLP acquired a new position in Denbury Resources during the third quarter valued at approximately $140,000. Finally, Macquarie Group Ltd. acquired a new position in Denbury Resources during the third quarter valued at approximately $423,000. Hedge funds and other institutional investors own 82.85% of the company’s stock.

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About Denbury Resources

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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