Equities research analysts expect Denbury Resources (NYSE:DNR) to announce $0.08 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Denbury Resources’ earnings, with estimates ranging from $0.04 to $0.10. The company is expected to report its next quarterly earnings report on Tuesday, August 14th.
On average, analysts expect that Denbury Resources will report full year earnings of $0.38 per share for the current fiscal year, with EPS estimates ranging from $0.29 to $0.42. For the next year, analysts forecast that the company will post earnings of $0.52 per share, with EPS estimates ranging from $0.34 to $0.62. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Denbury Resources.
Denbury Resources (NYSE:DNR) last released its earnings results on Tuesday, May 8th. The oil and natural gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Denbury Resources had a return on equity of 19.63% and a net margin of 15.01%. 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 prior year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was up 28.0% on a year-over-year basis.
A number of equities research analysts have recently commented on the company. KLR Group lowered Denbury Resources from a “buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research report on Monday. Zacks Investment Research lowered Denbury Resources from a “buy” rating to a “hold” rating in a research report on Thursday, April 26th. Finally, UBS assumed coverage on Denbury Resources in a research report on Wednesday, March 7th. They set a “neutral” rating and a $2.50 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $2.25.
Denbury Resources traded up $0.17, hitting $4.09, during mid-day trading on Thursday, Marketbeat reports. The company had a trading volume of 14,280,430 shares, compared to its average volume of 9,408,330. Denbury Resources has a fifty-two week low of $3.76 and a fifty-two week high of $3.83. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 4.24. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 29.21 and a beta of 3.13.
In other news, Director Laura A. Sugg sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, April 10th. The stock was sold at an average price of $3.00, for a total transaction of $37,500.00. Following the sale, the director now owns 140,841 shares of the company’s stock, valued at $422,523. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 50,000 shares of company stock worth $157,625. 1.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNR. BlackRock Inc. grew its holdings in shares of Denbury Resources by 2.9% during the fourth quarter. BlackRock Inc. now owns 52,960,970 shares of the oil and natural gas company’s stock worth $117,044,000 after buying an additional 1,516,392 shares in the last quarter. OTA Financial Group L.P. bought a new position in shares of Denbury Resources during the fourth quarter worth about $224,000. Anderson Hoagland & Co. grew its holdings in shares of Denbury Resources by 119.2% during the fourth quarter. Anderson Hoagland & Co. now owns 149,350 shares of the oil and natural gas company’s stock worth $330,000 after buying an additional 81,205 shares in the last quarter. Elephas Investment Management Ltd bought a new position in shares of Denbury Resources during the fourth quarter worth about $484,000. Finally, Nomura Asset Management Co. Ltd. bought a new position in shares of Denbury Resources during the fourth quarter worth about $540,000. 81.98% of the stock is currently owned by 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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