Mizuho upgraded shares of Denbury Resources (NYSE:DNR) from a neutral rating to a buy rating in a report issued on Tuesday morning, Marketbeat.com reports.
Several other research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Denbury Resources from a hold rating to a buy rating and set a $1.50 price target for the company in a report on Tuesday, October 10th. KeyCorp restated a hold rating on shares of Denbury Resources in a report on Monday, November 13th. Royal Bank of Canada restated a hold rating and set a $2.00 price target on shares of Denbury Resources in a report on Wednesday, December 20th. Imperial Capital started coverage on shares of Denbury Resources in a report on Tuesday, October 3rd. They set an in-line rating and a $2.00 price target for the company. Finally, BMO Capital Markets set a $1.00 price target on shares of Denbury Resources and gave the stock a hold rating in a report on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Denbury Resources has a consensus rating of Hold and an average target price of $2.13.
Denbury Resources (NYSE DNR) traded down $0.01 during trading on Tuesday, reaching $2.44. 8,633,089 shares of the company’s stock traded hands, compared to its average volume of 8,940,000. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 5.91. Denbury Resources has a 52-week low of $0.91 and a 52-week high of $3.83. The company has a market cap of $983.43, a price-to-earnings ratio of -2.71 and a beta of 3.56.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The firm had revenue of $266.56 million during the quarter, compared to analyst estimates of $261.84 million. The business’s revenue was up 4.9% on a year-over-year basis. equities research analysts expect that Denbury Resources will post 0.09 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in Denbury Resources by 1.8% in the second quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock worth $33,402,000 after buying an additional 380,034 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Denbury Resources by 24.5% during the second 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 purchasing an additional 2,382,134 shares during the period. Dimensional Fund Advisors LP lifted its stake in Denbury Resources by 18.5% in the second 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 acquiring an additional 1,573,866 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Denbury Resources by 163.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock worth $10,162,000 after acquiring an additional 4,125,074 shares during the period. Finally, Northern Trust Corp lifted its stake in Denbury Resources by 8.4% in the second quarter. Northern Trust Corp now owns 4,859,338 shares of the oil and natural gas company’s stock worth $7,436,000 after acquiring an additional 376,512 shares during the period. Institutional investors 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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