Analysts Anticipate Denbury Resources Inc. (DNR) Will Post Quarterly Sales of $337.52 Million

Wall Street analysts expect Denbury Resources Inc. (NYSE:DNR) to report sales of $337.52 million for the current quarter, Zacks reports. Three analysts have made estimates for Denbury Resources’ earnings. The lowest sales estimate is $333.00 million and the highest is $340.26 million. Denbury Resources posted sales of $387.06 million in the same quarter last year, which would indicate a negative year over year growth rate of 12.8%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Denbury Resources will report full-year sales of $1.33 billion for the current fiscal year, with estimates ranging from $1.32 billion to $1.34 billion. For the next year, analysts expect that the business will report sales of $1.33 billion, with estimates ranging from $1.26 billion to $1.43 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Denbury Resources.

Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Tuesday, May 7th. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.49 million. Denbury Resources had a net margin of 18.06% and a return on equity of 20.60%. Denbury Resources’s revenue was down 13.5% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share.

Several equities analysts have issued reports on DNR shares. TheStreet lowered shares of Denbury Resources from a “c-” rating to a “d+” rating in a report on Thursday. Zacks Investment Research raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Imperial Capital lowered shares of Denbury Resources from an “outperform” rating to an “in-line” rating in a report on Wednesday, May 8th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Denbury Resources in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $4.36.

DNR stock traded up $0.05 during trading on Friday, hitting $1.60. 9,624,127 shares of the company’s stock traded hands, compared to its average volume of 12,132,904. The firm has a market cap of $737.96 million, a price-to-earnings ratio of 3.33 and a beta of 3.57. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 2.40. Denbury Resources has a 1 year low of $1.39 and a 1 year high of $6.75.

In related news, insider Christian S. Kendall acquired 150,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were purchased at an average cost of $2.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the insider now directly owns 1,751,765 shares of the company’s stock, valued at $3,503,530. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. LS Investment Advisors LLC grew its holdings in shares of Denbury Resources by 5.1% during the first quarter. LS Investment Advisors LLC now owns 90,058 shares of the oil and natural gas company’s stock valued at $185,000 after buying an additional 4,352 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Denbury Resources by 3.2% during the fourth quarter. State of Alaska Department of Revenue now owns 153,926 shares of the oil and natural gas company’s stock valued at $263,000 after buying an additional 4,775 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Denbury Resources by 23.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,293 shares of the oil and natural gas company’s stock valued at $48,000 after buying an additional 5,309 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Denbury Resources by 25.9% during the fourth quarter. SG Americas Securities LLC now owns 27,643 shares of the oil and natural gas company’s stock valued at $47,000 after buying an additional 5,688 shares during the last quarter. Finally, Shelton Capital Management grew its holdings in shares of Denbury Resources by 15.4% during the fourth quarter. Shelton Capital Management now owns 46,431 shares of the oil and natural gas company’s stock valued at $79,000 after buying an additional 6,195 shares during the last quarter. 82.92% of the stock is currently owned by hedge funds and other institutional investors.

About Denbury Resources

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.

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