Denbury Resources (DNR) Bond Prices Rise 1%

An issue of Denbury Resources Inc. (NYSE:DNR) debt rose 1% against its face value during trading on Wednesday. The high-yield debt issue has a 5.5% coupon and is set to mature on May 1, 2022. The bonds in the issue are now trading at $68.00 and were trading at $70.00 last week. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its share price.

Several equities research analysts have recently issued reports on the company. Imperial Capital began coverage on Denbury Resources in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 target price on the stock. Royal Bank of Canada reissued a “hold” rating and set a $1.50 price objective on shares of Denbury Resources in a research note on Friday, September 29th. KeyCorp reissued a “hold” rating on shares of Denbury Resources in a research note on Wednesday, September 6th. Zacks Investment Research cut Denbury Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 5th. Finally, BidaskClub lowered Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $2.00.

Denbury Resources Inc. (DNR) opened at $1.96 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.91. Denbury Resources Inc. has a 12-month low of $0.92 and a 12-month high of $3.95.

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, 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 company had revenue of $266.56 million for the quarter, compared to analyst estimates of $261.84 million. Denbury Resources’s revenue was up 4.9% on a year-over-year basis. equities analysts predict that Denbury Resources Inc. will post 0.09 EPS for the current year.

A number of large investors have recently bought and sold shares of the business. Teachers Advisors LLC boosted its stake in shares of Denbury Resources by 57.0% during the 2nd quarter. Teachers Advisors LLC now owns 967,464 shares of the oil and natural gas company’s stock worth $1,480,000 after acquiring an additional 351,363 shares in the last quarter. State Street Corp boosted its stake in shares of Denbury Resources by 1.8% during the 2nd quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock worth $33,402,000 after acquiring an additional 380,034 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Denbury Resources by 24.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock worth $18,510,000 after acquiring an additional 2,382,134 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Denbury Resources by 163.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock worth $10,162,000 after acquiring an additional 4,125,074 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Denbury Resources during the 2nd quarter worth about $275,000. 80.23% of the stock is currently owned by institutional investors.

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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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