Denbury Resources (NYSE:DNR) Trading Down 8.9%

Shares of Denbury Resources Inc. (NYSE:DNR) were down 8.9% during mid-day trading on Friday . The stock traded as low as $1.00 and last traded at $1.02, approximately 15,336,127 shares were traded during trading. An increase of 22% from the average daily volume of 12,583,496 shares. The stock had previously closed at $1.12.

Several equities research analysts have recently issued reports on DNR shares. TheStreet lowered shares of Denbury Resources from a “c-” rating to a “d+” rating in a research note on Thursday, May 23rd. Imperial Capital decreased their price target on shares of Denbury Resources from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Thursday, June 6th. UBS Group set a $2.00 price target on shares of Denbury Resources and gave the company a “hold” rating in a research note on Thursday, June 20th. Finally, Royal Bank of Canada set a $2.00 target price on shares of Denbury Resources and gave the stock a “hold” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $3.54.

The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.98. The company’s fifty day moving average is $1.10 and its two-hundred day moving average is $1.65. The stock has a market cap of $530.72 million, a price-to-earnings ratio of 2.13 and a beta of 3.35.

Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.04. Denbury Resources had a net margin of 27.05% and a return on equity of 18.67%. The company had revenue of $343.36 million during the quarter, compared to analysts’ expectations of $331.52 million. During the same quarter last year, the company posted $0.13 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. Analysts predict that Denbury Resources Inc. will post 0.44 EPS for the current year.

In other Denbury Resources news, insider Christian S. Kendall purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was bought at an average price of $1.25 per share, with a total value of $125,000.00. Following the transaction, the insider now directly owns 2,003,390 shares of the company’s stock, valued at approximately $2,504,237.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Summit Financial Wealth Advisors LLC purchased a new stake in shares of Denbury Resources during the 1st quarter worth $26,000. IFG Advisory LLC purchased a new stake in shares of Denbury Resources during the 1st quarter worth $25,000. D.A. Davidson & CO. lifted its position in shares of Denbury Resources by 50.0% during the 2nd quarter. D.A. Davidson & CO. now owns 30,000 shares of the oil and natural gas company’s stock worth $37,000 after purchasing an additional 10,000 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Denbury Resources during the 2nd quarter worth $40,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Denbury Resources during the 1st quarter worth $72,000. 78.29% of the stock is owned by institutional investors.

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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