Denbury Resources (DNR) Bond Prices Rise 3.6%
An issue of Denbury Resources Inc. (NYSE:DNR) debt rose 3.6% against its face value during trading on Friday. The high-yield issue of debt has a 5.5% coupon and will mature on May 1, 2022. The debt is now trading at $71.25. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.
Several analysts recently weighed in on the stock. Stifel Nicolaus set a $1.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a report on Friday, August 18th. Imperial Capital began coverage on shares of Denbury Resources in a research note on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 price target for the company. Royal Bank Of Canada restated a “hold” rating and issued a $1.50 price target on shares of Denbury Resources in a research note on Friday, September 29th. KeyCorp restated a “hold” rating on shares of Denbury Resources in a research note on Wednesday, September 6th. Finally, BidaskClub downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Denbury Resources currently has a consensus rating of “Hold” and a consensus target price of $1.94.
Denbury Resources Inc. (NYSE DNR) opened at $1.91 on Friday. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53. Denbury Resources Inc. has a 12 month low of $0.92 and a 12 month high of $4.29.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business had revenue of $266.56 million during the quarter, compared to the consensus estimate of $261.84 million. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts expect that Denbury Resources Inc. will post 0.06 EPS for the current fiscal year.
Several hedge funds have recently modified their holdings of the stock. Sei Investments Co. grew its stake in shares of Denbury Resources by 0.4% during the second quarter. Sei Investments Co. now owns 268,469 shares of the oil and natural gas company’s stock worth $411,000 after purchasing an additional 1,059 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Denbury Resources by 0.9% during the second quarter. Texas Permanent School Fund now owns 290,828 shares of the oil and natural gas company’s stock worth $445,000 after purchasing an additional 2,568 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Denbury Resources by 1.3% during the first quarter. Teachers Advisors LLC now owns 616,101 shares of the oil and natural gas company’s stock worth $1,590,000 after purchasing an additional 8,116 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Denbury Resources by 11.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock worth $148,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in shares of Denbury Resources by 4.6% during the second quarter. Thrivent Financial For Lutherans now owns 236,150 shares of the oil and natural gas company’s stock worth $361,000 after purchasing an additional 10,380 shares in the last quarter. Hedge funds and other institutional investors own 80.26% of the company’s stock.
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About Denbury Resources
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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