Denbury Resources (DNR) Debt Trading 0.9% Lower

An issue of Denbury Resources Inc. (NYSE:DNR) bonds fell 0.9% as a percentage of their face value during trading on Monday. The high-yield debt issue has a 9% coupon and is set to mature on May 15, 2021. The debt is now trading at $103.63. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.

Several equities research analysts recently weighed in on DNR shares. 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 report on Tuesday, October 10th. Royal Bank of Canada reissued a “hold” rating and set a $2.00 price target on shares of Denbury Resources in a research report on Wednesday, December 20th. KeyCorp reissued a “hold” rating on shares of Denbury Resources in a research report on Monday, November 13th. BMO Capital Markets set a $1.00 price target on shares of Denbury Resources and gave the company a “hold” rating in a research report on Tuesday, October 10th. Finally, Imperial Capital started coverage on shares of Denbury Resources in a research report on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Denbury Resources has a consensus rating of “Hold” and an average price target of $2.00.

Shares of Denbury Resources Inc. (NYSE:DNR) opened at $2.28 on Tuesday. Denbury Resources Inc. has a 1 year low of $0.92 and a 1 year high of $3.90. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.91. The firm has a market cap of $918.94, a P/E ratio of -2.53 and a beta of 3.56.

Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $261.84 million. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. research analysts forecast that Denbury Resources Inc. will post 0.09 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of DNR. Schwab Charles Investment Management Inc. boosted its holdings in Denbury Resources by 163.9% in the second 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 purchasing an additional 4,125,074 shares during the last quarter. Rhumbline Advisers boosted its holdings in Denbury Resources by 16.1% in the second quarter. Rhumbline Advisers now owns 971,404 shares of the oil and natural gas company’s stock worth $1,486,000 after purchasing an additional 134,873 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Denbury Resources by 51.0% in the second quarter. BNP Paribas Arbitrage SA now owns 158,273 shares of the oil and natural gas company’s stock worth $242,000 after purchasing an additional 53,431 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Denbury Resources by 14,307.0% in the second quarter. Federated Investors Inc. PA now owns 357,725 shares of the oil and natural gas company’s stock worth $547,000 after purchasing an additional 355,242 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Denbury Resources by 0.4% in the second quarter. Principal Financial Group Inc. now owns 3,094,321 shares of the oil and natural gas company’s stock worth $4,735,000 after purchasing an additional 12,302 shares during the last quarter. Institutional investors own 80.23% 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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