Brokerages expect Denbury Resources (NYSE:DNR) to post $327.62 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Denbury Resources’ earnings, with the highest sales estimate coming in at $335.10 million and the lowest estimate coming in at $320.13 million. Denbury Resources posted sales of $261.18 million during the same quarter last year, which suggests a positive year-over-year growth rate of 25.4%. The company is scheduled to report its next earnings report on Tuesday, August 14th.
On average, analysts expect that Denbury Resources will report full-year sales of $1.33 billion for the current year, with estimates ranging from $1.28 billion to $1.38 billion. For the next year, analysts expect that the business will report sales of $1.45 billion per share, with estimates ranging from $1.44 billion to $1.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Denbury Resources.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings data on Tuesday, May 8th. The oil and natural gas company reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.01. The firm had revenue of $347.57 million during the quarter, compared to analyst estimates of $324.65 million. Denbury Resources had a net margin of 15.01% and a return on equity of 19.63%. The business’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS.
A number of equities research analysts have recently weighed in on DNR shares. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.50 price objective for the company in a report on Tuesday, April 24th. UBS started 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, KLR Group downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating and set a $4.00 target price on the stock. in a research note on Monday, May 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $2.25.
Shares of DNR opened at $4.13 on Friday. The company has a market capitalization of $1.73 billion, a PE ratio of 29.50 and a beta of 3.13. The company has a debt-to-equity ratio of 4.24, a current ratio of 0.46 and a quick ratio of 0.46. Denbury Resources has a fifty-two week low of $0.92 and a fifty-two week high of $4.23.
In related news, Director Laura A. Sugg sold 12,500 shares of Denbury Resources stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $2.80, for a total value of $35,000.00. Following the transaction, the director now directly owns 153,341 shares of the company’s stock, valued at $429,354.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 50,000 shares of company stock worth $157,625. 1.10% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC increased its stake in shares of Denbury Resources by 33.5% in the first quarter. LPL Financial LLC now owns 54,094 shares of the oil and natural gas company’s stock worth $148,000 after buying an additional 13,577 shares during the period. Resource Management LLC purchased a new position in Denbury Resources during the 1st quarter valued at $175,000. HBK Investments L P purchased a new position in Denbury Resources during the 4th quarter valued at $144,000. Two Sigma Advisers LP purchased a new position in Denbury Resources during the 4th quarter valued at $163,000. Finally, Jane Street Group LLC increased its position in Denbury Resources by 130.5% during the 1st quarter. Jane Street Group LLC now owns 92,578 shares of the oil and natural gas company’s stock valued at $254,000 after purchasing an additional 52,416 shares during the period. 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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