Denbury Resources Inc. (DNR) Bonds Trading 1.6% Higher
An issue of Denbury Resources Inc. (NYSE:DNR) bonds rose 1.6% as a percentage of their face value during trading on Friday. The high-yield issue of debt has a 9% coupon and is set to mature on May 15, 2021. The bonds in the issue are now trading at $98.31 and were trading at $97.50 one week ago. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.
A number of research analysts have issued reports on DNR shares. BMO Capital Markets set a $1.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a research note on Tuesday, October 10th. Stifel Nicolaus set a $1.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research note on Friday, August 18th. Imperial Capital assumed 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. BidaskClub lowered shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, Zacks Investment Research raised shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a research note on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Denbury Resources presently has an average rating of “Hold” and an average price target of $1.94.
Shares of Denbury Resources Inc. (NYSE:DNR) opened at $1.80 on Friday. Denbury Resources Inc. has a one year low of $0.91 and a one year high of $4.29. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.53 and a quick ratio of 0.53.
Denbury Resources (NYSE:DNR) last released its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The business had revenue of $266.56 million during the quarter, compared to analyst estimates of $261.84 million. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. equities research analysts forecast that Denbury Resources Inc. will post 0.05 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Denbury Resources by 15,599.0% during the first quarter. BlackRock Inc. now owns 47,422,302 shares of the oil and natural gas company’s stock valued at $122,349,000 after acquiring an additional 47,120,229 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Denbury Resources by 146.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,529,233 shares of the oil and natural gas company’s stock valued at $22,004,000 after acquiring an additional 5,067,230 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Denbury Resources by 163.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after acquiring an additional 4,125,074 shares during the period. Janus Henderson Group PLC increased its stake in Denbury Resources by 778.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock valued at $4,211,000 after buying an additional 2,784,747 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Denbury Resources by 24.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock valued at $18,510,000 after buying an additional 2,382,134 shares during the period. 82.85% of the stock is owned by institutional investors and hedge funds.
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Denbury Resources Company Profile
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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