Denbury Resources Inc. Expected to Earn Q3 2016 Earnings of $0.00 Per Share (DNR)
Denbury Resources Inc. (NYSE:DNR) – Analysts at Capital One Financial Corp. increased their Q3 2016 EPS estimates for shares of Denbury Resources in a research note issued on Monday. Capital One Financial Corp. analyst R. Tullis now expects that the brokerage will earn $0.00 per share for the quarter, up from their prior estimate of ($0.05).
A number of other brokerages have also recently issued reports on DNR. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Wednesday, August 10th. Stifel Nicolaus raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Mizuho began coverage on shares of Denbury Resources in a report on Wednesday. They set a “neutral” rating on the stock. Finally, Barclays PLC lowered shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $2.70.
Shares of Denbury Resources (NYSE:DNR) opened at 3.25 on Wednesday. The company’s 50-day moving average is $3.04 and its 200 day moving average is $3.34. Denbury Resources has a 1-year low of $0.86 and a 1-year high of $4.80. The stock’s market cap is $1.20 billion.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.06. Denbury Resources had a negative net margin of 361.13% and a positive return on equity of 6.04%. The firm had revenue of $255.15 million for the quarter, compared to the consensus estimate of $285.70 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 32.5% on a year-over-year basis.
In related news, Director Greg Mcmichael sold 10,000 shares of Denbury Resources stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $3.13, for a total transaction of $31,300.00. Following the transaction, the director now owns 89,379 shares of the company’s stock, valued at approximately $279,756.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in Denbury Resources by 2.0% in the second quarter. Amalgamated Bank now owns 40,571 shares of the company’s stock valued at $116,000 after buying an additional 783 shares during the last quarter. World Asset Management Inc raised its position in Denbury Resources by 6.6% in the second quarter. World Asset Management Inc now owns 29,375 shares of the company’s stock valued at $105,000 after buying an additional 1,829 shares during the last quarter. State Treasurer State of Michigan raised its position in Denbury Resources by 1.4% in the second quarter. State Treasurer State of Michigan now owns 140,692 shares of the company’s stock valued at $505,000 after buying an additional 1,900 shares during the last quarter. Teacher Retirement System of Texas raised its position in Denbury Resources by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 48,399 shares of the company’s stock valued at $174,000 after buying an additional 6,026 shares during the last quarter. Finally, Comerica Bank raised its position in Denbury Resources by 2.5% in the second quarter. Comerica Bank now owns 273,374 shares of the company’s stock valued at $823,000 after buying an additional 6,671 shares during the last quarter. 90.47% of the stock is currently owned by institutional investors and hedge funds.
Denbury Resources Company Profile
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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