Denbury Resources Inc. (NYSE:DNR) Director Sells $21,800.00 in Stock

Denbury Resources Inc. (NYSE:DNR) Director Greg Mcmichael sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $1.09, for a total transaction of $21,800.00. Following the sale, the director now directly owns 194,568 shares in the company, valued at $212,079.12. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Shares of DNR stock traded up $0.02 on Friday, reaching $1.13. The stock had a trading volume of 8,429,502 shares, compared to its average volume of 10,612,929. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.98. The firm’s 50-day moving average is $1.06 and its two-hundred day moving average is $1.59. The firm has a market capitalization of $521.32 million, a price-to-earnings ratio of 2.35 and a beta of 3.37. Denbury Resources Inc. has a 12 month low of $0.87 and a 12 month high of $6.75.

Denbury Resources (NYSE:DNR) last issued its earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.13 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.04. The company had revenue of $343.36 million for the quarter, compared to analysts’ expectations of $331.52 million. Denbury Resources had a net margin of 27.05% and a return on equity of 18.67%. Denbury Resources’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. On average, sell-side analysts forecast that Denbury Resources Inc. will post 0.43 earnings per share for the current fiscal year.

DNR has been the topic of several analyst reports. Royal Bank of Canada set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Monday, August 12th. TheStreet cut shares of Denbury Resources from a “c-” rating to a “d+” rating in a research report on Thursday, May 23rd. Imperial Capital cut their price target on shares of Denbury Resources from $3.00 to $2.00 and set an “in-line” rating on the stock in a research report on Thursday, June 6th. Finally, UBS Group set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research report on Thursday, June 20th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $3.54.

Several hedge funds have recently modified their holdings of DNR. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 853,975 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Denbury Resources in the 1st quarter valued at about $72,000. Virginia Retirement Systems ET AL raised its holdings in shares of Denbury Resources by 343.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 220,300 shares of the oil and natural gas company’s stock valued at $452,000 after purchasing an additional 170,600 shares during the period. SG Americas Securities LLC raised its holdings in shares of Denbury Resources by 685.2% in the 1st quarter. SG Americas Securities LLC now owns 217,056 shares of the oil and natural gas company’s stock valued at $445,000 after purchasing an additional 189,413 shares during the period. Finally, Alps Advisors Inc. bought a new stake in shares of Denbury Resources in the 1st quarter valued at about $469,000. 78.29% of the stock is currently owned by institutional investors.

About Denbury Resources

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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