Denbury Resources (NYSE:DNR) Shares Gap Down to $1.03

Denbury Resources Inc. (NYSE:DNR)’s share price gapped down before the market opened on Friday . The stock had previously closed at $0.98, but opened at $1.03. Denbury Resources shares last traded at $1.03, with a volume of 121,220 shares traded.

DNR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Imperial Capital decreased their price target on Denbury Resources from $3.00 to $2.00 and set an “in-line” rating for the company in a report on Thursday, June 6th. UBS Group set a $2.00 price target on Denbury Resources and gave the stock a “hold” rating in a report on Thursday, June 20th. Finally, TheStreet downgraded Denbury Resources from a “c-” rating to a “d+” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $4.04.

The company has a debt-to-equity ratio of 2.40, a current ratio of 0.59 and a quick ratio of 0.59. The company’s 50 day moving average price is $1.20. The stock has a market cap of $544.24 million, a P/E ratio of 2.13 and a beta of 3.36.

Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $305.40 million during the quarter, compared to the consensus estimate of $314.49 million. Denbury Resources had a return on equity of 20.60% and a net margin of 18.06%. The firm’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same period last year, the business posted $0.12 EPS. On average, sell-side analysts anticipate that Denbury Resources Inc. will post 0.38 earnings per share for the current fiscal year.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Denbury Resources by 4.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 20,876,184 shares of the oil and natural gas company’s stock valued at $35,699,000 after acquiring an additional 853,975 shares in the last quarter. Norges Bank bought a new position in Denbury Resources in the 4th quarter valued at about $12,891,000. Bank of New York Mellon Corp lifted its position in Denbury Resources by 21.2% in the 4th quarter. Bank of New York Mellon Corp now owns 6,639,414 shares of the oil and natural gas company’s stock valued at $11,353,000 after acquiring an additional 1,161,038 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in Denbury Resources by 1,307.2% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 5,167,209 shares of the oil and natural gas company’s stock valued at $6,407,000 after acquiring an additional 4,800,000 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Denbury Resources by 97.2% in the 4th quarter. Millennium Management LLC now owns 5,039,979 shares of the oil and natural gas company’s stock valued at $8,618,000 after acquiring an additional 2,484,341 shares in the last quarter. Institutional investors own 81.05% of the company’s stock.

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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