Denbury Resources Inc. (NYSE:DNR) Receives $3.93 Consensus Price Target from Brokerages

Denbury Resources Inc. (NYSE:DNR) has been given a consensus recommendation of “Hold” by the twelve ratings firms that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $3.77.

Several research firms recently commented on DNR. UBS Group set a $2.00 price target on shares of Denbury Resources and gave the stock a “hold” rating in a research note on Thursday, June 20th. Imperial Capital reduced their price target on shares of Denbury Resources from $3.00 to $2.00 and set an “in-line” rating on the stock in a research note on Thursday, June 6th. TheStreet downgraded shares of Denbury Resources from a “c-” rating to a “d+” rating in a research note on Thursday, May 23rd. Zacks Investment Research downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Denbury Resources in a research note on Thursday, March 21st.

DNR stock traded down $0.05 during trading on Tuesday, hitting $1.16. The company had a trading volume of 384,191 shares, compared to its average volume of 13,358,336. The stock has a market cap of $608.82 million, a price-to-earnings ratio of 2.47 and a beta of 3.67. Denbury Resources has a 52-week low of $1.12 and a 52-week high of $6.75. The firm has a 50 day moving average of $1.55. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.59 and a quick ratio of 0.59.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $305.40 million for the quarter, compared to the consensus estimate of $314.49 million. Denbury Resources had a net margin of 18.06% and a return on equity of 20.60%. The firm’s revenue was down 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 EPS. As a group, analysts anticipate that Denbury Resources will post 0.48 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LS Investment Advisors LLC increased its position in Denbury Resources by 5.1% during the 1st quarter. LS Investment Advisors LLC now owns 90,058 shares of the oil and natural gas company’s stock valued at $185,000 after purchasing an additional 4,352 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Denbury Resources by 23.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,293 shares of the oil and natural gas company’s stock valued at $48,000 after purchasing an additional 5,309 shares during the period. SG Americas Securities LLC increased its position in Denbury Resources by 25.9% during the 4th quarter. SG Americas Securities LLC now owns 27,643 shares of the oil and natural gas company’s stock valued at $47,000 after purchasing an additional 5,688 shares during the period. Piedmont Investment Advisors Inc. increased its position in Denbury Resources by 6.9% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 117,152 shares of the oil and natural gas company’s stock valued at $240,000 after purchasing an additional 7,572 shares during the period. Finally, American Century Companies Inc. increased its position in Denbury Resources by 0.5% during the 4th quarter. American Century Companies Inc. now owns 1,470,258 shares of the oil and natural gas company’s stock valued at $2,514,000 after purchasing an additional 7,623 shares during the period. 80.08% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Denbury Resources (NYSE:DNR)

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