Denbury Resources (DNR) Hits New 12-Month High at $6.15

Denbury Resources Inc. (NYSE:DNR)’s share price hit a new 52-week high on Monday . The company traded as high as $6.15 and last traded at $6.14, with a volume of 1447968 shares traded. The stock had previously closed at $5.73.

A number of equities analysts have weighed in on DNR shares. Johnson Rice upgraded shares of Denbury Resources from a “hold” rating to an “accumulate” rating in a research report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Friday, July 20th. TheStreet upgraded shares of Denbury Resources from a “d” rating to a “c-” rating in a research report on Wednesday, August 22nd. ValuEngine upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, KLR Group reiterated a “hold” rating and set a $5.00 target price on shares of Denbury Resources in a research report on Monday, August 20th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $3.59.

The company has a market cap of $2.57 billion, a price-to-earnings ratio of 44.00 and a beta of 3.39. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.43 and a current ratio of 0.43.

Denbury Resources (NYSE:DNR) last announced its earnings results on Tuesday, August 7th. The oil and natural gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $387.06 million for the quarter, compared to the consensus estimate of $328.72 million. Denbury Resources had a net margin of 14.77% and a return on equity of 25.74%. analysts predict that Denbury Resources Inc. will post 0.48 EPS for the current fiscal year.

In related news, CAO James S. Matthews sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the sale, the chief accounting officer now directly owns 459,949 shares of the company’s stock, valued at $2,235,352.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Denbury Resources by 8.4% during the second quarter. BlackRock Inc. now owns 57,077,113 shares of the oil and natural gas company’s stock valued at $274,540,000 after acquiring an additional 4,411,023 shares during the last quarter. FMR LLC grew its position in Denbury Resources by 17.6% during the second quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock valued at $104,854,000 after acquiring an additional 3,266,213 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Denbury Resources by 50.5% during the second quarter. Dimensional Fund Advisors LP now owns 19,489,262 shares of the oil and natural gas company’s stock valued at $93,744,000 after acquiring an additional 6,542,311 shares during the last quarter. Northern Trust Corp grew its position in Denbury Resources by 23.6% during the second quarter. Northern Trust Corp now owns 5,821,687 shares of the oil and natural gas company’s stock valued at $28,002,000 after acquiring an additional 1,112,609 shares during the last quarter. Finally, Soros Fund Management LLC grew its position in Denbury Resources by 2.8% during the second quarter. Soros Fund Management LLC now owns 4,700,000 shares of the oil and natural gas company’s stock valued at $22,607,000 after acquiring an additional 130,000 shares during the last quarter. 84.97% of the stock is currently owned by institutional investors and hedge funds.

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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