Denbury Resources (DNR) was Downgraded by Barclays to ” Underweight” while Lowering the Price Target of the company shares to $ 2.50 from a previous price target of $3 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Aug 10, 2016.
Many Wall Street Analysts have commented on Denbury Resources. Denbury Resources was Upgraded by Stifel to ” Hold” on Jun 15, 2016.
On the company’s financial health, Denbury Resources reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.02. The company had revenue of $255.10 million for the quarter, compared to analysts expectations of $299.91 million. The company’s revenue was down -32.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.
Denbury Resources opened for trading at $3.09 and hit $3.42 on the upside on Monday, eventually ending the session at $3.2, with a gain of 5.96% or 0.18 points. The heightened volatility saw the trading volume jump to 1,79,20,766 shares. Company has a market cap of $1,122 M.
In a different news, on Apr 2, 2015, Ronald G Greene (director) sold 45,000 shares at $18.42 per share price.
Denbury Resources Inc. is an independent oil and natural gas company. The Companys operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. The Companys 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. The Companys primary Gulf Coast CO2 source is Jackson Dome. The Companys mature group of properties includes the initial CO2 field Little Creek as well as several other fields including Brookhaven Cranfield Eucutta Lockhart Crossing Mallalieu Martinville McComb and Soso fields. The Company also holds interest in the 183-mile NEJD CO2 pipeline that runs from Jackson Dome to near Donaldsonville Louisiana.