Denbury Resources (DNR) Coverage Initiated by Analysts at Stephens

Stock analysts at Stephens assumed coverage on shares of Denbury Resources (NYSE:DNR) in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The brokerage set a “weight” rating and a $4.00 price target on the oil and natural gas company’s stock. Stephens’ price target indicates a potential upside of 79.37% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Denbury Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Oppenheimer began coverage on shares of Denbury Resources in a research report on Wednesday, October 3rd. They set an “outperform” rating and a $9.00 price objective for the company. TheStreet upgraded shares of Denbury Resources from a “d” rating to a “c-” rating in a research report on Wednesday, August 22nd. ValuEngine upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Finally, KLR Group reiterated a “hold” rating and set a $5.00 price objective on shares of Denbury Resources in a research report on Monday, August 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.73.

Shares of NYSE:DNR opened at $2.23 on Thursday. The company has a market capitalization of $1.00 billion, a PE ratio of 4.36 and a beta of 3.74. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.80. Denbury Resources has a 12 month low of $1.53 and a 12 month high of $6.75.

Denbury Resources (NYSE:DNR) last issued its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $395.00 million during the quarter, compared to analysts’ expectations of $348.39 million. Denbury Resources had a net margin of 18.81% and a return on equity of 27.79%. The business’s revenue for the quarter was up 48.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.04 EPS. As a group, research analysts expect that Denbury Resources will post 0.48 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Denbury Resources by 15.6% during the 3rd quarter. BlackRock Inc. now owns 65,977,332 shares of the oil and natural gas company’s stock worth $409,060,000 after purchasing an additional 8,900,219 shares in the last quarter. Vanguard Group Inc. increased its position in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 61,830,605 shares of the oil and natural gas company’s stock worth $383,349,000 after purchasing an additional 2,706,664 shares in the last quarter. FMR LLC increased its position in Denbury Resources by 29.9% in the 3rd quarter. FMR LLC now owns 28,324,948 shares of the oil and natural gas company’s stock valued at $175,615,000 after acquiring an additional 6,525,531 shares during the period. Dimensional Fund Advisors LP increased its position in Denbury Resources by 2.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 20,022,209 shares of the oil and natural gas company’s stock valued at $124,137,000 after acquiring an additional 532,947 shares during the period. Finally, Alliancebernstein L.P. increased its position in Denbury Resources by 118.7% in the 3rd 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 acquiring an additional 10,250,727 shares during the period. Institutional investors and hedge funds 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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Analyst Recommendations for Denbury Resources (NYSE:DNR)

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