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.
Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a report on Wednesday, November 14th. Oppenheimer downgraded shares of Denbury Resources from an “outperform” rating to a “hold” rating and set a $9.00 price target for the company. in a report on Friday, November 30th. ValuEngine downgraded shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Johnson Rice upgraded shares of Denbury Resources from a “hold” rating to an “accumulate” rating in a report on Wednesday, August 15th. Finally, TheStreet downgraded shares of Denbury Resources from a “c-” rating to a “d+” rating in a report on Friday, November 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $4.73.
The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 15.93 and a beta of 3.74. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.80.
Denbury Resources (NYSE:DNR) last posted 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 Zacks’ consensus estimate of $0.11 by $0.02. The business had revenue of $395.00 million during the quarter, compared to the consensus estimate of $348.39 million. Denbury Resources had a return on equity of 27.79% and a net margin of 18.81%. Denbury Resources’s quarterly revenue was up 48.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 earnings per share. Equities research analysts forecast that Denbury Resources Inc. will post 0.48 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Denbury Resources by 15.6% in the third quarter. BlackRock Inc. now owns 65,977,332 shares of the oil and natural gas company’s stock valued at $409,060,000 after purchasing an additional 8,900,219 shares during the period. Vanguard Group Inc. increased its holdings in Denbury Resources by 4.6% in the third quarter. Vanguard Group Inc. now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after purchasing an additional 2,706,664 shares during the period. FMR LLC increased its holdings in Denbury Resources by 29.9% in the third quarter. FMR LLC now owns 28,324,948 shares of the oil and natural gas company’s stock valued at $175,615,000 after purchasing an additional 6,525,531 shares during the period. Dimensional Fund Advisors LP increased its holdings in Denbury Resources by 2.7% in the third quarter. Dimensional Fund Advisors LP now owns 20,022,209 shares of the oil and natural gas company’s stock valued at $124,137,000 after purchasing an additional 532,947 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in Denbury Resources by 118.7% in the third quarter. Alliancebernstein L.P. now owns 18,889,891 shares of the oil and natural gas company’s stock valued at $117,117,000 after purchasing an additional 10,250,727 shares during the period. Institutional investors and hedge funds own 87.60% of the company’s stock.
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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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