Denbury Resources Inc. (NYSE:DNR) has received an average recommendation of “Hold” from the twelve analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.22.
A number of brokerages have commented on DNR. Stifel Nicolaus increased their price target on shares of Denbury Resources from $1.30 to $4.60 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Zacks Investment Research cut shares of Denbury Resources from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine cut shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. Oppenheimer reiterated a “buy” rating on shares of Denbury Resources in a research report on Thursday. Finally, TheStreet cut shares of Denbury Resources from a “c-” rating to a “d+” rating in a research report on Friday, November 2nd.
NYSE DNR traded down $0.04 on Monday, reaching $2.95. 21,551,822 shares of the company’s stock traded hands, compared to its average volume of 14,038,946. Denbury Resources has a 12 month low of $1.53 and a 12 month high of $6.75. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $1.48 billion, a P/E ratio of 21.07 and a beta of 3.74.
In other news, CAO James S. Matthews sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the transaction, the chief accounting officer now owns 459,949 shares in the company, valued at $2,235,352.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of DNR. Wells Fargo & Company MN grew its holdings in shares of Denbury Resources by 7.4% in the first quarter. Wells Fargo & Company MN now owns 790,827 shares of the oil and natural gas company’s stock worth $2,167,000 after purchasing an additional 54,679 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Denbury Resources in the first quarter valued at $587,000. Jane Street Group LLC boosted its holdings in Denbury Resources by 130.5% in the first quarter. Jane Street Group LLC now owns 92,578 shares of the oil and natural gas company’s stock valued at $254,000 after acquiring an additional 52,416 shares in the last quarter. LPL Financial LLC boosted its holdings in Denbury Resources by 33.5% in the first quarter. LPL Financial LLC now owns 54,094 shares of the oil and natural gas company’s stock valued at $148,000 after acquiring an additional 13,577 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Denbury Resources by 29.5% in the first quarter. Millennium Management LLC now owns 4,416,547 shares of the oil and natural gas company’s stock valued at $12,101,000 after acquiring an additional 1,005,671 shares in the last quarter. Hedge funds and other institutional investors own 85.17% of the company’s stock.
Denbury Resources Company Profile
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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