Denbury Resources Inc. (NYSE:DNR) has been given a consensus rating of “Hold” by the thirteen analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $2.31.
DNR has been the topic of a number of research analyst reports. Credit Suisse Group reissued an “underperform” rating and issued a $2.00 price target on shares of Denbury Resources in a report on Friday, June 2nd. ValuEngine downgraded shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. BMO Capital Markets dropped their price objective on shares of Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating on the stock in a report on Friday, July 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $2.50 price objective on shares of Denbury Resources in a report on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Denbury Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th.
Denbury Resources (NYSE:DNR) traded down 2.75% during mid-day trading on Wednesday, hitting $1.06. 8,074,687 shares of the stock were exchanged. The stock’s 50-day moving average is $1.24 and its 200 day moving average is $1.79. Denbury Resources has a 52 week low of $0.91 and a 52 week high of $4.29. The company’s market capitalization is $413.30 million.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.02. The company had revenue of $261.20 million for the quarter, compared to the consensus estimate of $248.66 million. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, analysts anticipate that Denbury Resources will post $0.02 EPS for the current year.
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Several institutional investors have recently made changes to their positions in DNR. BlackRock Inc. lifted its holdings in shares of Denbury Resources by 15,599.0% in the first quarter. BlackRock Inc. now owns 47,422,302 shares of the oil and natural gas company’s stock worth $122,349,000 after buying an additional 47,120,229 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Denbury Resources by 18.3% in the first quarter. Vanguard Group Inc. now owns 56,483,974 shares of the oil and natural gas company’s stock worth $145,729,000 after buying an additional 8,753,615 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Denbury Resources by 146.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,529,233 shares of the oil and natural gas company’s stock worth $22,004,000 after buying an additional 5,067,230 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of 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 buying an additional 4,125,074 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Denbury Resources by 24.5% in the second quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock worth $18,510,000 after buying an additional 2,382,134 shares in the last quarter. 86.45% of the stock is currently owned by hedge funds and other institutional investors.
About Denbury Resources
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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