Equities researchers at Mizuho assumed coverage on shares of Denbury Resources Inc. (NYSE:DNR) in a research note issued on Wednesday. The firm set a “neutral” rating and a $3.00 price target on the stock. Mizuho’s target price would suggest a potential downside of 7.41% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Barclays PLC downgraded shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $3.00 to $2.50 in a report on Wednesday, August 10th. Finally, Stifel Nicolaus upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. Denbury Resources presently has an average rating of “Hold” and an average price target of $2.72.
Shares of Denbury Resources (NYSE:DNR) opened at 3.24 on Wednesday. Denbury Resources has a 52 week low of $0.86 and a 52 week high of $4.80. The stock’s market capitalization is $1.20 billion. The company’s 50-day moving average is $3.05 and its 200 day moving average is $3.34.
Denbury Resources (NYSE:DNR) last posted its earnings results on Thursday, August 4th. The company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. During the same period last year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was down 32.5% on a year-over-year basis. On average, equities analysts forecast that Denbury Resources will post ($0.01) EPS for the current fiscal year.
In related news, Director Greg Mcmichael sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $3.13, for a total value of $31,300.00. Following the sale, the director now directly owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Denbury Resources by 100,706.4% in the second quarter. BNP Paribas Arbitrage SA now owns 173,387 shares of the company’s stock valued at $622,000 after buying an additional 173,215 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Denbury Resources during the first quarter worth $184,000. Squarepoint Ops LLC boosted its position in shares of Denbury Resources by 34.6% in the first quarter. Squarepoint Ops LLC now owns 549,037 shares of the company’s stock worth $1,219,000 after buying an additional 141,030 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Denbury Resources by 81.0% in the first quarter. UBS Asset Management Americas Inc. now owns 924,772 shares of the company’s stock worth $2,052,000 after buying an additional 413,726 shares during the period. Finally, UBS Group AG boosted its position in shares of Denbury Resources by 3,483.2% in the first quarter. UBS Group AG now owns 693,020 shares of the company’s stock worth $1,538,000 after buying an additional 673,679 shares during the period. 90.47% of the stock is currently owned by institutional investors and hedge funds.
About Denbury Resources
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.