Denbury Resources (DNR) Stock Falls on First-Quarter Revenue Miss

NEW YORK (TheStreet) -- Shares of Denbury Resources  (DNR) fell 7.48% to $7.92 in morning trading Thursday after the independent oil and gas company reported a significant first-quarter revenue miss.

The company reported adjusted net income of $23 million, or 7 cents per diluted share, down from $93 million, or 27 cents per diluted share, in the same period one year earlier. Revenue fell to $304 million from $480 million year-over-year.

Analysts polled by Thomson Reuters had expected earnings of 7 cents a share on revenue of $440.48 million.

Denbury's total production for the first quarter of 2015 increased slightly to average 74,356 barrels of oil equivalent per day.

"We are pleased with our first quarter results, as they were generally in line or better than our expectations. We were particularly pleased with the reductions we have seen in our base lease operating costs," said Denbury President and CEO Rykhoek in a statement.

DNR Chart DNR data by YCharts

More from Markets

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

Flashback Friday: The Market Movers

Flashback Friday: The Market Movers