Denbury Resources (DNR) Shares Gap Down to $2.35

Denbury Resources Inc. (NYSE:DNR) shares gapped down before the market opened on Thursday . The stock had previously closed at $2.48, but opened at $2.35. Denbury Resources shares last traded at $2.18, with a volume of 13965859 shares traded.

A number of research firms recently issued reports on DNR. Stephens initiated coverage on Denbury Resources in a report on Thursday. They set a “weight” rating and a $4.00 price objective for the company. Imperial Capital reissued an “outperform” rating and set a $4.00 price target on shares of Denbury Resources in a report on Tuesday, October 30th. KLR Group reissued a “hold” rating and set a $5.00 price target on shares of Denbury Resources in a report on Monday, August 20th. ValuEngine cut Denbury Resources from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Finally, TheStreet raised Denbury Resources from a “d” rating to a “c-” rating in a report on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $4.73.

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 16.96 and a beta of 3.74. The company has a debt-to-equity ratio of 2.80, a current ratio of 0.55 and a quick ratio of 0.55.

Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Thursday, November 8th. The oil and natural gas company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The firm had revenue of $395.00 million during the quarter, compared to analysts’ expectations of $348.39 million. Denbury Resources had a return on equity of 27.79% and a net margin of 18.81%. The company’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, equities research analysts predict that Denbury Resources Inc. will post 0.48 EPS for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in DNR. Principal Financial Group Inc. raised its holdings in Denbury Resources by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 3,149,047 shares of the oil and natural gas company’s stock valued at $8,628,000 after acquiring an additional 83,175 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Denbury Resources in the 2nd quarter valued at $408,000. Commonwealth Equity Services LLC raised its holdings in Denbury Resources by 107.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 83,182 shares of the oil and natural gas company’s stock valued at $400,000 after acquiring an additional 43,110 shares in the last quarter. New York State Teachers Retirement System raised its holdings in Denbury Resources by 13.0% in the 2nd quarter. New York State Teachers Retirement System now owns 848,676 shares of the oil and natural gas company’s stock valued at $4,082,000 after acquiring an additional 97,870 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Denbury Resources by 182.1% in the 2nd quarter. Wells Fargo & Company MN now owns 2,230,528 shares of the oil and natural gas company’s stock valued at $10,729,000 after acquiring an additional 1,439,701 shares in the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.

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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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