Denbury Resources (DNR) : Traders are bullish on Denbury Resources (DNR) as it has outperformed the S&P 500 by a wide margin of 3.88% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 10.1%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 10.07% in the last 1 week, and is up 4.28% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Denbury Resources Inc. has dropped 21.34% during the last 3-month period . Year-to-Date the stock performance stands at 56.93%. The stock has recorded a 20-day Moving Average of 7.08% and the 50-Day Moving Average is 7.27%.
Denbury Resources (NYSE:DNR): The stock opened at $3.31 on Friday but the bulls could not build on the opening and the stock topped out at $3.35 for the day. The stock traded down to $3.16 during the day, due to lack of any buying support eventually closed down at $3.17 with a loss of -6.21% for the day. The stock had closed at $3.38 on the previous day. The total traded volume was 14,600,029 shares.
Also, Barclays downgrades its view on Denbury Resources (NYSE:DNR) according to the research report released by the firm to its investors. The shares have now been rated Underweight by the stock experts at the ratings house. Earlier, the shares had a rating of Equal-weight. Barclays lowers the price target from $3 per share to $2.5 per share on Denbury Resources . The rating by the firm was issued on August 10, 2016.
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.