Denbury Resources (DNR) Shares Up 5.6%

Denbury Resources Inc. (NYSE:DNR) shares shot up 5.6% during trading on Tuesday . The company traded as high as $1.92 and last traded at $1.89. 10,441,980 shares were traded during trading, a decline of 15% from the average session volume of 12,253,337 shares. The stock had previously closed at $1.79.

A number of brokerages have recently commented on DNR. Zacks Investment Research raised Denbury Resources from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Imperial Capital lowered Denbury Resources from an “outperform” rating to an “in-line” rating in a report on Wednesday, May 8th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Denbury Resources in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Denbury Resources presently has a consensus rating of “Hold” and an average price target of $4.36.

The firm has a market cap of $825.59 million, a PE ratio of 4.02 and a beta of 3.57. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 2.40.

Denbury Resources (NYSE:DNR) last released its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.02. The firm had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.49 million. Denbury Resources had a return on equity of 20.60% and a net margin of 18.06%. The company’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. As a group, equities research analysts predict that Denbury Resources Inc. will post 0.47 earnings per share for the current year.

In other Denbury Resources news, insider Christian S. Kendall bought 150,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were purchased at an average price of $2.00 per share, with a total value of $300,000.00. Following the acquisition, the insider now directly owns 1,751,765 shares of the company’s stock, valued at approximately $3,503,530. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DNR. BlackRock Inc. increased its position in shares of Denbury Resources by 1.8% during the fourth quarter. BlackRock Inc. now owns 67,173,062 shares of the oil and natural gas company’s stock valued at $114,867,000 after purchasing an additional 1,195,730 shares during the period. Vanguard Group Inc increased its holdings in Denbury Resources by 4.6% in the 3rd 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 buying an additional 2,706,664 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 buying an additional 853,975 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Denbury Resources by 48.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock valued at $103,419,000 after buying an additional 5,428,350 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Denbury Resources in the 4th quarter valued at $12,891,000. 88.47% of the stock is currently owned by hedge funds and other institutional investors.

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About Denbury Resources (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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