Denbury Resources Inc. (NYSE:DNR) – Stock analysts at KeyCorp upped their FY2019 earnings per share (EPS) estimates for Denbury Resources in a research note issued to investors on Monday, Zacks Investment Research reports. KeyCorp analyst D. Deckelbaum now anticipates that the oil and natural gas company will post earnings per share of $0.53 for the year, up from their previous estimate of $0.44.
DNR has been the subject of several other research reports. Zacks Investment Research downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. ValuEngine downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. UBS Group started coverage on shares of Denbury Resources in a report on Wednesday, March 7th. They set a “neutral” rating and a $2.50 price objective on the stock. Mizuho raised shares of Denbury Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $2.00 price objective on shares of Denbury Resources in a report on Wednesday, December 20th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.22.
Shares of Denbury Resources (NYSE DNR) traded up $0.03 during mid-day trading on Wednesday, hitting $2.43. 3,659,080 shares of the stock traded hands, compared to its average volume of 8,585,588. Denbury Resources has a one year low of $0.92 and a one year high of $2.69. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 4.60. The firm has a market cap of $960.59, a P/E ratio of 30.00 and a beta of 3.41.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Thursday, February 22nd. The oil and natural gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.07 by $0.05. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $310.27 million. Denbury Resources had a net margin of 14.44% and a return on equity of 10.20%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.02) EPS.
A number of institutional investors and hedge funds have recently bought and sold shares of DNR. Northern Trust Corp raised its stake in shares of Denbury Resources by 8.4% during the 2nd quarter. Northern Trust Corp now owns 4,859,338 shares of the oil and natural gas company’s stock worth $7,436,000 after purchasing an additional 376,512 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $15,458,000 after purchasing an additional 1,573,866 shares during the period. State Street Corp raised its stake in shares of Denbury Resources by 1.8% during the 2nd quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock worth $33,402,000 after purchasing an additional 380,034 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Denbury Resources by 17.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 319,515 shares of the oil and natural gas company’s stock worth $489,000 after purchasing an additional 46,738 shares during the period. Finally, California State Teachers Retirement System raised its stake in shares of Denbury Resources by 1.7% during the 2nd quarter. California State Teachers Retirement System now owns 704,541 shares of the oil and natural gas company’s stock worth $1,078,000 after purchasing an additional 11,700 shares during the period. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
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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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