Short Interest Worth Mentioning: Is Buying Denbury Resources Incorporated (NYSE:DNR) Here Good Idea?

December 1, 2016 - By Louis Casey   ·   0 Comments

Short Interest Worth Mentioning: Is Buying Denbury Resources Incorporated (NYSE:DNR) Here Good Idea?

The stock of Denbury Resources Incorporated (NYSE:DNR) registered an increase of 1.68% in short interest. DNR’s total short interest was 82.95M shares in December as published by FINRA. Its up 1.68% from 81.58M shares, reported previously. With 9.40 million shares average volume, it will take short sellers 9 days to cover their DNR’s short positions. The short interest to Denbury Resources Incorporated’s float is 22.65%. About 14.42 million shares traded hands or 30.38% up from the average. Denbury Resources Inc. (NYSE:DNR) has declined 6.90% since April 28, 2016 and is downtrending. It has underperformed by 12.82% the S&P500.

Denbury Resources Inc. is an independent oil and natural gas company. The company has a market cap of $2.13 billion. The Company’s activities are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. It currently has negative earnings. The Company’s 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.

Insitutional Activity: The institutional sentiment decreased to 1.28 in 2016 Q2. Its down 0.06, from 1.34 in 2016Q1. The ratio dived, as 33 funds sold all Denbury Resources Inc. shares owned while 61 reduced positions. 37 funds bought stakes while 89 increased positions. They now own 368.67 million shares or 16.66% more from 316.01 million shares in 2016Q1.
Schwab Charles Invest Mgmt Inc, a California-based fund reported 2.05 million shares. Numeric Invsts Ltd Liability Company, a Massachusetts-based fund reported 265,800 shares. Morgan Stanley has 3.18 million shares for 0% of their US portfolio. The New York-based Oppenheimer & Co has invested 0.01% in Denbury Resources Inc. (NYSE:DNR). Texas Permanent School Fund accumulated 268,071 shares or 0.01% of the stock. Kcg Inc has 358,152 shares for 0.03% of their US portfolio. Parametric Port Associates Ltd Limited Liability Company last reported 862,772 shares in the company. Elm Ridge Mngmt Limited Co accumulated 2.91% or 3.36 million shares. Venor Cap Lp has 1.35% invested in the company for 549,500 shares. First Interstate Fincl Bank holds 4,700 shares or 0% of its portfolio. National Bank & Trust Of Montreal Can has 0.01% invested in the company for 1.25M shares. The New York-based Mutual Of America Capital Mgmt Limited Company has invested 0.02% in Denbury Resources Inc. (NYSE:DNR). Asset Management Incorporated accumulated 0% or 29,375 shares. State Street, a Massachusetts-based fund reported 22.39M shares. Gargoyle Inv Advisor Ltd Liability Corp holds 0.14% of its portfolio in Denbury Resources Inc. (NYSE:DNR) for 104,696 shares.

Insider Transactions: Since August 15, 2016, the stock had 0 insider buys, and 1 insider sale for $31,300 net activity. On Monday, August 15 the insider McMichael Greg sold $31,300.

Denbury Resources Inc. (NYSE:DNR) Ratings Coverage

Out of 10 analysts covering Denbury Resources Inc. (NYSE:DNR), 0 rate it a “Buy”, 3 “Sell”, while 7 “Hold”. This means 0 are positive. Denbury Resources Inc. has been the topic of 24 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Cowen & Co downgraded the stock to “Market Perform” rating in Tuesday, September 8 report. Stifel Nicolaus upgraded Denbury Resources Inc. (NYSE:DNR) on Wednesday, June 15 to “Hold” rating. The stock has “Hold” rating given by Johnson Rice on Monday, February 22. The stock of Denbury Resources Inc. (NYSE:DNR) earned “Sector Perform” rating by KeyBanc Capital Markets on Tuesday, April 26. Mizuho initiated the stock with “Neutral” rating in Thursday, October 6 report. The company was maintained on Friday, October 2 by UBS. RBC Capital Markets maintained the shares of DNR in a report on Monday, February 22 with “Sector Perform” rating. The rating was downgraded by Credit Suisse on Tuesday, September 8 to “Underperform”. The firm has “Underweight” rating given on Wednesday, August 10 by Barclays Capital. Stifel Nicolaus downgraded the shares of DNR in a report on Friday, December 18 to “Sell” rating.

DNR Company Profile

Denbury Resources Inc., incorporated on April 20, 1999, is an independent oil and natural gas company. The Company’s activities are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. The Company’s 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 Firm has estimated proved oil and natural gas reserves of approximately 288.6 million barrels of oil equivalent (MMBOE).

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By Louis Casey

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