Denbury Resources Inc. (NYSE:DNR) Poised for Growth Post 3Q Earnings Call Next Week

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Dallas, Texas 11/01/2013 (Financialstrend) –  The S&P 500 index tracked Denbury Resources Inc. (NYSE:DNR) has a market cap of $7 billion. The Plano, Texas based oil firm has announced that it will be announcing results from its third quarter operations on November 5. The firm was trading at $18.99 per share which translates to a an 5.2% increase over its 200 day moving average. The stock has struggled to keep its valuation increase in the positive territory over the past 30 days. It has posted a 0.3% increase in its valuation over the past 30 days. In the last 5 days of trading the stock has gone up by 0.8% in value. The appreciation in value over the long term seems better with a 23% increase in value over the past 12 months.

In its second quarter which ended on June 30, the oil and gas manufacturer had posted net sales increase of 8% in comparison to its 2Q 12 numbers. Its earnings per share had dipped by more than 35% in the same period. While its gross margins were healthy, its profit margins had come down to just 17% above its trailing 12 months average. In the same period, the firm had posted close to $2.4 billion in sales and generated net income of $417 million.

Analysts believe that the third quarter results from this oil producer would be mixed considering the erratic fluctuation in the price of gas and oil in the previous 3 months. The analysts have a price target of $22.5 for the stock. This translates to a 18% premium on its close of October 31 price. It was trading at $18.99 per share down 0.26% from its previous day close. The current price of the stock is a 3.36% dip below its 52 week high valuation of $19.65 per share.

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