Denbury Resources (DNR) Downgraded to Sell at ValuEngine

ValuEngine cut shares of Denbury Resources (NYSE:DNR) from a hold rating to a sell rating in a report published on Monday morning.

Other analysts have also issued reports about the stock. Royal Bank of Canada reaffirmed a hold rating and set a $5.00 price target on shares of Denbury Resources in a research report on Friday, July 13th. KLR Group lowered shares of Denbury Resources from a buy rating to a hold rating and set a $4.00 price target on the stock. in a research report on Monday, May 14th. Finally, Zacks Investment Research lowered shares of Denbury Resources from a buy rating to a hold rating in a research report on Thursday, April 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company. Denbury Resources presently has a consensus rating of Hold and an average target price of $2.71.

Denbury Resources opened at $4.44 on Monday, according to Marketbeat. The company has a debt-to-equity ratio of 4.24, a quick ratio of 0.46 and a current ratio of 0.46. Denbury Resources has a 1 year low of $0.92 and a 1 year high of $5.56. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 31.71 and a beta of 3.20.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Tuesday, May 8th. The oil and natural gas company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Denbury Resources had a net margin of 15.01% and a return on equity of 19.63%. The firm had revenue of $347.57 million for the quarter, compared to analyst estimates of $324.65 million. During the same period in the prior year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. equities research analysts anticipate that Denbury Resources will post 0.38 EPS for the current year.

In related news, Director Greg Mcmichael sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $4.25, for a total transaction of $170,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Laura A. Sugg sold 12,500 shares of the firm’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $3.55, for a total transaction of $44,375.00. Following the transaction, the director now directly owns 115,841 shares in the company, valued at $411,235.55. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in DNR. Teacher Retirement System of Texas increased its position in Denbury Resources by 284.0% during the fourth quarter. Teacher Retirement System of Texas now owns 128,170 shares of the oil and natural gas company’s stock worth $283,000 after acquiring an additional 94,792 shares during the period. Wells Fargo & Company MN grew its stake in Denbury Resources by 49.6% during the fourth quarter. Wells Fargo & Company MN now owns 736,148 shares of the oil and natural gas company’s stock worth $1,626,000 after buying an additional 244,024 shares in the last quarter. BlackRock Inc. grew its stake in Denbury Resources by 2.9% during the fourth quarter. BlackRock Inc. now owns 52,960,970 shares of the oil and natural gas company’s stock worth $117,044,000 after buying an additional 1,516,392 shares in the last quarter. Virtu Financial LLC grew its stake in Denbury Resources by 81.2% during the fourth quarter. Virtu Financial LLC now owns 101,395 shares of the oil and natural gas company’s stock worth $224,000 after buying an additional 45,431 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Denbury Resources by 11.0% during the fourth quarter. Geode Capital Management LLC now owns 3,498,637 shares of the oil and natural gas company’s stock worth $7,731,000 after buying an additional 346,183 shares in the last quarter. 78.39% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Denbury Resources (NYSE:DNR)

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