Denbury Resources (NYSE:DNR) Upgraded to C- at TheStreet

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TheStreet upgraded shares of Denbury Resources (NYSE:DNR) from a d+ rating to a c- rating in a report issued on Tuesday morning, TheStreetRatingsTable reports.

DNR has been the topic of several other research reports. ValuEngine raised Denbury Resources from a sell rating to a hold rating in a research note on Friday, January 3rd. Imperial Capital set a $1.00 price objective on Denbury Resources and gave the stock a hold rating in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average target price of $1.81.

Shares of NYSE:DNR traded up $0.03 during midday trading on Tuesday, hitting $1.34. The company had a trading volume of 149,305 shares, compared to its average volume of 12,970,088. Denbury Resources has a 12 month low of $0.87 and a 12 month high of $2.68. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.82. The stock has a market cap of $647.57 million, a price-to-earnings ratio of 2.81 and a beta of 3.55. The firm has a fifty day simple moving average of $1.27 and a 200 day simple moving average of $1.15.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Thursday, November 7th. The oil and natural gas company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The business had revenue of $315.45 million for the quarter, compared to analyst estimates of $307.85 million. Denbury Resources had a return on equity of 15.74% and a net margin of 28.28%. The firm’s revenue was down 20.1% on a year-over-year basis. During the same period last year, the company earned $0.13 EPS. Equities analysts forecast that Denbury Resources will post 0.39 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DNR. Millennium Management LLC raised its stake in shares of Denbury Resources by 40,315.8% in the 3rd quarter. Millennium Management LLC now owns 6,666,175 shares of the oil and natural gas company’s stock valued at $7,932,000 after purchasing an additional 6,649,681 shares during the period. Nuveen Asset Management LLC bought a new position in Denbury Resources in the 2nd quarter worth approximately $21,530,000. Bank of America Corp DE boosted its holdings in Denbury Resources by 120.0% in the 2nd quarter. Bank of America Corp DE now owns 5,065,374 shares of the oil and natural gas company’s stock worth $6,280,000 after buying an additional 2,762,659 shares during the period. Morgan Stanley lifted its holdings in shares of Denbury Resources by 308.8% during the 2nd quarter. Morgan Stanley now owns 2,401,655 shares of the oil and natural gas company’s stock worth $2,977,000 after acquiring an additional 1,814,165 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Denbury Resources by 148.2% during the 3rd quarter. First Trust Advisors LP now owns 2,926,132 shares of the oil and natural gas company’s stock worth $3,482,000 after acquiring an additional 1,746,984 shares during the last quarter. 70.63% of the stock is currently owned by hedge funds and other institutional investors.

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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