Denbury Resources Inc. (NYSE:DNR) – Investment analysts at KeyCorp issued their Q1 2018 EPS estimates for Denbury Resources in a report issued on Tuesday. KeyCorp analyst D. Deckelbaum anticipates that the oil and natural gas company will earn $0.17 per share for the quarter. KeyCorp also issued estimates for Denbury Resources’ Q2 2018 earnings at $0.16 EPS, Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.14 EPS, Q1 2019 earnings at $0.14 EPS, Q2 2019 earnings at $0.16 EPS, Q3 2019 earnings at $0.17 EPS and Q4 2019 earnings at $0.16 EPS.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, February 22nd. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. Denbury Resources had a net margin of 14.44% and a return on equity of 10.20%. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $310.27 million. During the same period last year, the business earned ($0.02) earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research report on Wednesday, February 7th. Mizuho upgraded shares of Denbury Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, January 16th. Royal Bank of Canada restated a “hold” rating and issued a $2.00 price objective on shares of Denbury Resources in a report on Wednesday, December 20th. UBS assumed coverage on shares of Denbury Resources in a report on Wednesday, March 7th. They issued a “neutral” rating and a $2.50 price objective for the company. Finally, ValuEngine cut shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Denbury Resources currently has a consensus rating of “Hold” and a consensus price target of $1.82.
Shares of Denbury Resources (NYSE DNR) opened at $2.48 on Friday. Denbury Resources has a 12-month low of $0.92 and a 12-month high of $2.69. The firm has a market cap of $976.66, a PE ratio of 6.20 and a beta of 3.42. The company has a debt-to-equity ratio of 4.60, a quick ratio of 0.44 and a current ratio of 0.44.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Denbury Resources by 2.9% in the fourth quarter. BlackRock Inc. now owns 52,960,970 shares of the oil and natural gas company’s stock valued at $117,044,000 after purchasing an additional 1,516,392 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Denbury Resources by 11.0% in the fourth quarter. Geode Capital Management LLC now owns 3,498,637 shares of the oil and natural gas company’s stock valued at $7,731,000 after purchasing an additional 346,183 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Denbury Resources by 7.2% in the third quarter. California Public Employees Retirement System now owns 3,485,073 shares of the oil and natural gas company’s stock valued at $4,670,000 after purchasing an additional 233,475 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Denbury Resources by 314.1% in the fourth quarter. Millennium Management LLC now owns 3,410,876 shares of the oil and natural gas company’s stock valued at $7,538,000 after purchasing an additional 2,587,244 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Denbury Resources by 778.1% in the third quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock worth $4,211,000 after acquiring an additional 2,784,747 shares during the last quarter. Hedge funds and other institutional investors own 81.03% of the company’s stock.
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About Denbury Resources
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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