Investment analysts at Stephens assumed coverage on shares of Denbury Resources (NYSE:DNR) in a report issued on Thursday, MarketBeat reports. The brokerage set a “weight” rating and a $4.00 price target on the oil and natural gas company’s stock. Stephens’ price objective would suggest a potential upside of 62.60% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. Imperial Capital reissued an “outperform” rating and issued a $4.00 price objective on shares of Denbury Resources in a research report on Tuesday, October 30th. KLR Group restated a “hold” rating and issued a $5.00 target price on shares of Denbury Resources in a research note on Monday, August 20th. ValuEngine lowered Denbury Resources from a “hold” rating to a “sell” rating in a research note on Tuesday, October 23rd. TheStreet upgraded Denbury Resources from a “d” rating to a “c-” rating in a research note on Wednesday, August 22nd. Finally, Johnson Rice upgraded Denbury Resources from a “hold” rating to an “accumulate” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Denbury Resources presently has an average rating of “Hold” and a consensus price target of $4.73.
DNR stock traded up $0.28 during midday trading on Thursday, hitting $2.46. The company’s stock had a trading volume of 2,792,413 shares, compared to its average volume of 14,069,640. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.80. Denbury Resources has a 1 year low of $1.53 and a 1 year high of $6.75. The stock has a market cap of $1.08 billion, a P/E ratio of 17.57 and a beta of 3.74.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Thursday, November 8th. The oil and natural gas company reported $0.13 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Denbury Resources had a return on equity of 27.79% and a net margin of 18.81%. The business had revenue of $395.00 million for the quarter, compared to analysts’ expectations of $348.39 million. During the same quarter in the previous year, the firm earned $0.04 earnings per share. The business’s revenue was up 48.2% on a year-over-year basis. As a group, analysts forecast that Denbury Resources will post 0.48 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently modified their holdings of DNR. Alliancebernstein L.P. raised its stake in shares of Denbury Resources by 118.7% in the third quarter. Alliancebernstein L.P. now owns 18,889,891 shares of the oil and natural gas company’s stock valued at $117,117,000 after buying an additional 10,250,727 shares during the period. BlackRock Inc. raised its stake in shares of Denbury Resources by 15.6% in the third quarter. BlackRock Inc. now owns 65,977,332 shares of the oil and natural gas company’s stock valued at $409,060,000 after buying an additional 8,900,219 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Denbury Resources by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 19,489,262 shares of the oil and natural gas company’s stock valued at $93,744,000 after buying an additional 6,542,311 shares during the period. FMR LLC raised its stake in shares of Denbury Resources by 29.9% in the third quarter. FMR LLC now owns 28,324,948 shares of the oil and natural gas company’s stock valued at $175,615,000 after buying an additional 6,525,531 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Denbury Resources by 48.2% in the third quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock valued at $103,419,000 after buying an additional 5,428,350 shares during the period. Hedge funds and other institutional investors own 87.60% of the company’s stock.
Denbury Resources Company Profile
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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