Denbury Resources (DNR) has been under a strong bear grip, hence the stock is down -8.49% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.7% in the past 1 week. The stock has risen by 4.14% in the past week indicating that the buyers are active at lower levels, but the stock is down -6.21% in the past 4 weeks.
Denbury Resources (NYSE:DNR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.04 and $2.92 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.11. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.02, notching a gain of 1.00% for the day. The total traded volume was 10,600,897 . The stock had closed at $2.99 on the previous day.
The stock has recorded a 20-day Moving Average of 2.31% and the 50-Day Moving Average is 17.27%. Denbury Resources Inc. has dropped 17.03% during the last 3-month period . Year-to-Date the stock performance stands at 49.5%.
Denbury Resources (DNR) : The highest level Denbury Resources (DNR) is projected to reach is $5 for the short term and the lowest estimate is at $2. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $3.58 and the possibility the share price can swing is $1.2.
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.