Denbury Resources Inc. to Post FY2016 Earnings of $0.03 Per Share, Capital One Financial Corp. Forecasts (DNR)
Denbury Resources Inc. (NYSE:DNR) – Equities researchers at Capital One Financial Corp. boosted their FY2016 EPS estimates for shares of Denbury Resources in a research report issued to clients and investors on Monday. Capital One Financial Corp. analyst R. Tullis now anticipates that the firm will earn $0.03 per share for the year, up from their prior estimate of ($0.07). Capital One Financial Corp. also issued estimates for Denbury Resources’ Q4 2016 earnings at ($0.02) EPS and FY2017 earnings at $0.07 EPS.
Denbury Resources (NYSE:DNR) last issued its earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Denbury Resources had a positive return on equity of 6.04% and a negative net margin of 361.13%. The company earned $255.15 million during the quarter, compared to the consensus estimate of $285.70 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 32.5% compared to the same quarter last year.
Other equities research analysts have also issued research reports about the company. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price on the stock in a research report on Wednesday, August 10th. Stifel Nicolaus raised Denbury Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, June 15th. Finally, Barclays PLC downgraded Denbury Resources from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $3.00 to $2.50 in a research note on Wednesday, August 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $2.70.
Denbury Resources (NYSE:DNR) opened at 3.15 on Thursday. Denbury Resources has a 52 week low of $0.86 and a 52 week high of $4.80. The stock’s 50 day moving average price is $3.01 and its 200 day moving average price is $3.31. The company’s market capitalization is $1.17 billion.
Several institutional investors have recently added to or reduced their stakes in DNR. Norges Bank acquired a new position in Denbury Resources during the fourth quarter valued at about $7,795,000. Aperio Group LLC raised its position in Denbury Resources by 47.4% in the first quarter. Aperio Group LLC now owns 212,466 shares of the company’s stock valued at $472,000 after buying an additional 68,345 shares in the last quarter. Icon Advisers Inc. Co. raised its position in Denbury Resources by 28.7% in the first quarter. Icon Advisers Inc. Co. now owns 1,675,900 shares of the company’s stock valued at $3,720,000 after buying an additional 373,700 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Denbury Resources by 48.0% in the first quarter. TIAA CREF Investment Management LLC now owns 1,630,232 shares of the company’s stock valued at $3,619,000 after buying an additional 528,379 shares in the last quarter. Finally, FDO Partners LLC acquired a new position in Denbury Resources during the first quarter valued at about $441,000. 90.47% of the stock is owned by institutional investors.
In other news, Director Greg Mcmichael sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $3.13, for a total value of $31,300.00. Following the completion of the transaction, the director now directly owns 89,379 shares of the company’s stock, valued at $279,756.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.86% of the stock is owned by insiders.
About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on 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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