Denbury Resources Inc. (DNR) Receives Average Recommendation of “Hold” from Analysts

Denbury Resources Inc. (NYSE:DNR) has earned a consensus rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $2.93.

Several equities analysts have weighed in on DNR shares. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.50 price objective on the stock in a research report on Tuesday, April 24th. KLR Group cut shares of Denbury Resources from a “buy” rating to a “hold” rating and set a $4.00 price objective on the stock. in a research report on Monday, May 14th. ValuEngine cut shares of Denbury Resources from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $5.00 price objective on shares of Denbury Resources in a research report on Friday, July 13th.

Denbury Resources stock traded down $0.32 during mid-day trading on Friday, hitting $4.19. The company’s stock had a trading volume of 10,935,517 shares, compared to its average volume of 10,653,833. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 29.93 and a beta of 3.20. Denbury Resources has a twelve month low of $0.92 and a twelve month high of $5.56.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Denbury Resources had a net margin of 15.01% and a return on equity of 19.63%. The firm had revenue of $347.57 million for the quarter, compared to analyst estimates of $324.65 million. During the same quarter in the previous year, the business posted ($0.02) earnings per share. The firm’s quarterly revenue was up 28.0% compared to the same quarter last year. equities analysts predict that Denbury Resources will post 0.4 EPS for the current fiscal year.

In other Denbury Resources news, Director Laura A. Sugg sold 12,500 shares of Denbury Resources stock in a transaction on Monday, May 7th. The shares were sold at an average price of $3.55, for a total transaction of $44,375.00. Following the completion of the sale, the director now owns 115,841 shares of the company’s stock, valued at approximately $411,235.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Greg Mcmichael sold 40,000 shares of Denbury Resources stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $4.25, for a total transaction of $170,000.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Several large investors have recently modified their holdings of the business. LPL Financial LLC boosted its stake in shares of Denbury Resources by 33.5% during the 1st quarter. LPL Financial LLC now owns 54,094 shares of the oil and natural gas company’s stock valued at $148,000 after buying an additional 13,577 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Denbury Resources during the 2nd quarter valued at $117,000. Advisor Partners LLC acquired a new stake in shares of Denbury Resources during the 2nd quarter valued at $151,000. Swiss National Bank boosted its stake in shares of Denbury Resources by 7.1% during the 1st quarter. Swiss National Bank now owns 701,500 shares of the oil and natural gas company’s stock valued at $1,922,000 after buying an additional 46,700 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Denbury Resources by 130.5% during the 1st quarter. Jane Street Group LLC now owns 92,578 shares of the oil and natural gas company’s stock valued at $254,000 after buying an additional 52,416 shares during the period. 78.39% of the stock is owned by institutional investors.

Denbury Resources Company Profile

Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

Further Reading: Dividend

Analyst Recommendations for Denbury Resources (NYSE:DNR)

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