An issue of Denbury Resources Inc. (NYSE:DNR) debt rose 4.5% against its face value during trading on Wednesday. The debt issue has a 6.375% coupon and will mature on August 15, 2021. The debt is now trading at $82.00. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
A number of equities research analysts have issued reports on the company. Mizuho assumed coverage on Denbury Resources in a research note on Wednesday. They issued a “neutral” rating for the company. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research note on Wednesday, August 10th. Barclays PLC lowered Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Finally, Stifel Nicolaus upgraded Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $2.70.
Denbury Resources Inc. (NYSE:DNR) opened at 3.25 on Thursday. Denbury Resources Inc. has a one year low of $0.86 and a one year high of $4.80. The company has a 50 day moving average of $3.04 and a 200-day moving average of $3.34. The company’s market cap is $1.20 billion.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.06. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. The company earned $255.15 million during the quarter, compared to analysts’ expectations of $285.70 million. During the same quarter in the prior year, the company earned $0.13 EPS. Denbury Resources’s revenue was down 32.5% compared to the same quarter last year. On average, equities analysts expect that Denbury Resources Inc. will post ($0.01) earnings per share for the current fiscal year.
In related news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the completion of the sale, the director now owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. boosted its stake in shares of Denbury Resources by 3,617.1% in the second quarter. Nomura Holdings Inc. now owns 3,234,000 shares of the company’s stock valued at $11,608,000 after buying an additional 3,146,996 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in shares of Denbury Resources during the second quarter valued at about $574,000. Sterling Capital Management LLC boosted its stake in shares of Denbury Resources by 142.6% in the second quarter. Sterling Capital Management LLC now owns 936,630 shares of the company’s stock valued at $3,362,000 after buying an additional 550,614 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Denbury Resources by 59.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,053,586 shares of the company’s stock valued at $7,373,000 after buying an additional 761,725 shares in the last quarter. Finally, Pine River Capital Management L.P. acquired a new stake in shares of Denbury Resources during the second quarter valued at about $2,468,000. 90.47% of the stock is owned by institutional investors.
Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on 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.
Receive News & Ratings for Denbury Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denbury Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.