Denbury Resources (DNR) Shares Gap Up to $2.25

Denbury Resources Inc. (NYSE:DNR) gapped up before the market opened on Friday . The stock had previously closed at $2.18, but opened at $2.25. Denbury Resources shares last traded at $2.35, with a volume of 9503801 shares traded.

DNR has been the topic of a number of research reports. Royal Bank of Canada restated a “hold” rating and set a $2.00 price objective on shares of Denbury Resources in a research report on Wednesday, December 20th. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “strong-buy” rating and set a $2.50 price objective on the stock in a research report on Tuesday. BMO Capital Markets set a $1.00 price objective on Denbury Resources and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Imperial Capital initiated coverage on Denbury Resources in a research report on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 price objective on the stock. Finally, ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.13.

The firm has a market capitalization of $979.40, a PE ratio of -2.61 and a beta of 3.56. 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 (NYSE:DNR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. The firm had revenue of $266.56 million for the quarter, compared to analyst estimates of $261.84 million. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. analysts forecast that Denbury Resources Inc. will post 0.09 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNR. Schwab Charles Investment Management Inc. grew its position in shares of Denbury Resources by 163.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after buying an additional 4,125,074 shares during the last quarter. Rhumbline Advisers grew its position in shares of Denbury Resources by 16.1% in the 2nd quarter. Rhumbline Advisers now owns 971,404 shares of the oil and natural gas company’s stock valued at $1,486,000 after buying an additional 134,873 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Denbury Resources by 51.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 158,273 shares of the oil and natural gas company’s stock valued at $242,000 after buying an additional 53,431 shares during the last quarter. Federated Investors Inc. PA grew its position in shares of Denbury Resources by 14,307.0% in the 2nd quarter. Federated Investors Inc. PA now owns 357,725 shares of the oil and natural gas company’s stock valued at $547,000 after buying an additional 355,242 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Denbury Resources by 0.4% in the 2nd quarter. Principal Financial Group Inc. now owns 3,094,321 shares of the oil and natural gas company’s stock valued at $4,735,000 after buying an additional 12,302 shares during the last quarter. Hedge funds and other institutional investors own 80.23% of the company’s stock.

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Denbury Resources Company Profile

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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