Denbury Resources (NYSE:DNR)‘s stock had its “hold” rating restated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, December 20th. They presently have a $2.00 price target on the oil and natural gas company’s stock. Royal Bank of Canada’s target price would suggest a potential downside of 17.70% from the stock’s previous close.
DNR has been the topic of several other reports. KeyCorp reaffirmed a “hold” rating on shares of Denbury Resources in a research report on Monday, November 13th. BMO Capital Markets reissued a “hold” rating and issued a $1.00 price target on shares of Denbury Resources in a research report on Friday, September 1st. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $1.50 price target on the stock in a research report on Tuesday, October 10th. BidaskClub cut Denbury Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Imperial Capital initiated coverage on Denbury Resources in a research report on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 price target on the stock. Four analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $2.13.
Shares of Denbury Resources (NYSE:DNR) traded up $0.08 during trading hours on Wednesday, reaching $2.43. The company had a trading volume of 6,773,646 shares, compared to its average volume of 9,540,000. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $979.40, a P/E ratio of -2.70 and a beta of 3.56. Denbury Resources has a 52 week low of $0.91 and a 52 week high of $3.90.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business had revenue of $266.56 million for the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. Denbury Resources’s revenue was up 4.9% on a year-over-year basis. equities research analysts anticipate that Denbury Resources will post 0.09 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in DNR. Schwab Charles Investment Management Inc. raised its stake in Denbury Resources by 163.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after buying an additional 4,125,074 shares during the last quarter. Janus Henderson Group PLC raised its stake in Denbury Resources by 778.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock valued at $4,211,000 after buying an additional 2,784,747 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Denbury Resources by 24.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock valued at $18,510,000 after buying an additional 2,382,134 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Denbury Resources by 18.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 10,103,099 shares of the oil and natural gas company’s stock valued at $15,458,000 after buying an additional 1,573,866 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Denbury Resources in the 2nd quarter worth $769,000. Institutional investors and hedge funds own 80.23% of the company’s stock.
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Denbury Resources Company Profile
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in two operating areas: the Gulf Coast and Rocky Mountain regions. Its 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.
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