An issue of Denbury Resources Inc. (NYSE:DNR) debt fell 2.6% as a percentage of its face value during trading on Thursday. The high-yield debt issue has a 6.375% coupon and is set to mature on August 15, 2021. The debt is now trading at $80.88 and was trading at $83.50 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
Several analysts have commented on DNR shares. KLR Group reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Denbury Resources in a research report on Wednesday, March 15th. Zacks Investment Research lowered shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $3.35.
Denbury Resources Inc. (NYSE:DNR) traded down 3.73% during mid-day trading on Thursday, hitting $2.32. 6,250,843 shares of the stock traded hands. The stock’s market cap is $901.75 million. The company’s 50 day moving average price is $2.50 and its 200-day moving average price is $3.11. Denbury Resources Inc. has a 1-year low of $2.15 and a 1-year high of $4.80.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Thursday, February 23rd. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. The company earned $271.62 million during the quarter, compared to analyst estimates of $236.02 million. Denbury Resources had a negative net margin of 151.55% and a positive return on equity of 1.82%. Denbury Resources’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned ($0.01) EPS. Analysts predict that Denbury Resources Inc. will post $0.15 earnings per share for the current year.
In related news, Director Greg Mcmichael sold 16,000 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $2.23, for a total transaction of $35,680.00. Following the sale, the director now directly owns 73,379 shares of the company’s stock, valued at approximately $163,635.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.86% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. increased its stake in shares of Denbury Resources by 2.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,390 shares of the company’s stock valued at $119,000 after buying an additional 632 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Denbury Resources by 8.6% in the third quarter. Acrospire Investment Management LLC now owns 33,677 shares of the company’s stock valued at $109,000 after buying an additional 2,677 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Denbury Resources during the third quarter valued at approximately $111,000. Hartford Investment Management Co. purchased a new stake in shares of Denbury Resources during the third quarter valued at approximately $118,000. Finally, Credit Agricole S A increased its stake in shares of Denbury Resources by 29.3% in the fourth quarter. Credit Agricole S A now owns 59,548 shares of the company’s stock valued at $219,000 after buying an additional 13,495 shares during the period. 89.52% of the stock is currently 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 in 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.
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