Denbury Resources Inc. (DNR) Expected to Post Quarterly Sales of $302.08 Million

Wall Street analysts expect that Denbury Resources Inc. (NYSE:DNR) will announce sales of $302.08 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Denbury Resources’ earnings. The lowest sales estimate is $270.17 million and the highest is $322.40 million. Denbury Resources reported sales of $271.62 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.2%. The business is scheduled to report its next earnings report on Thursday, February 22nd.

On average, analysts expect that Denbury Resources will report full year sales of $302.08 million for the current fiscal year, with estimates ranging from $1.03 billion to $1.13 billion. For the next financial year, analysts forecast that the firm will report sales of $1.25 billion per share, with estimates ranging from $1.12 billion to $1.34 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 posted its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The business had revenue of $266.56 million for the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year.

Several equities analysts have issued reports on the stock. ValuEngine cut shares of Denbury Resources from a “hold” rating to a “sell” rating in a research note on Sunday. Royal Bank of Canada restated a “hold” rating and set a $2.00 target price on shares of Denbury Resources in a research note on Wednesday, December 20th. Zacks Investment Research cut shares of Denbury Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 5th. KeyCorp reaffirmed a “hold” rating on shares of Denbury Resources in a research report on Monday, November 13th. Finally, Imperial Capital assumed coverage on shares of Denbury Resources in a research report on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 price target for the company. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $2.00.

Denbury Resources (NYSE DNR) opened at $2.29 on Wednesday. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market cap of $922.98, a PE ratio of -2.54 and a beta of 3.57. Denbury Resources has a one year low of $0.92 and a one year high of $3.94.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Denbury Resources by 1.8% in the 2nd quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock worth $33,402,000 after acquiring an additional 380,034 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Denbury Resources by 24.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock worth $18,510,000 after acquiring an additional 2,382,134 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Denbury Resources by 18.5% in the 2nd 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 in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Denbury Resources by 163.9% in the 2nd 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 in the last quarter. Finally, Northern Trust Corp increased its holdings in Denbury Resources by 8.4% in the 2nd 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 in the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.

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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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