FY2016 EPS Estimates for Denbury Resources Inc. Lifted by Analyst (DNR)
Denbury Resources Inc. (NYSE:DNR) – Stock analysts at KeyCorp lifted their FY2016 earnings per share estimates for shares of Denbury Resources in a research report issued to clients and investors on Tuesday. KeyCorp analyst D. Deckelbaum now forecasts that the brokerage will post earnings per share of $0.04 for the year, up from their previous estimate of $0.03. KeyCorp also issued estimates for Denbury Resources’ Q1 2018 earnings at $0.11 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.14 EPS and FY2018 earnings at $0.53 EPS.
Several other research analysts have also recently weighed in on the stock. Nomura restated a “sell” rating and set a $3.00 price target on shares of Denbury Resources in a report on Monday, November 7th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a report on Wednesday, August 10th. Johnson Rice restated a “hold” rating on shares of Denbury Resources in a report on Tuesday, October 18th. Barclays PLC cut shares of Denbury Resources from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $3.00 to $2.50 in a report on Wednesday, August 10th. Finally, Mizuho started coverage on shares of Denbury Resources in a report on Wednesday, October 5th. They set a “neutral” rating and a $3.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $2.59.
Denbury Resources (NYSE:DNR) opened at 3.23 on Wednesday. Denbury Resources has a one year low of $0.86 and a one year high of $4.80. The stock’s 50 day moving average is $2.84 and its 200 day moving average is $3.29. The company’s market capitalization is $1.26 billion.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can bought a new position in Denbury Resources during the second quarter worth $4,495,000. Oakbrook Investments LLC boosted its position in Denbury Resources by 80.5% in the second quarter. Oakbrook Investments LLC now owns 28,700 shares of the company’s stock worth $103,000 after buying an additional 12,800 shares during the last quarter. First Quadrant L P CA boosted its position in Denbury Resources by 9,481.7% in the second quarter. First Quadrant L P CA now owns 120,154 shares of the company’s stock worth $431,000 after buying an additional 118,900 shares during the last quarter. Acadian Asset Management LLC bought a new position in Denbury Resources during the second quarter worth $7,140,000. Finally, Foundry Partners LLC bought a new position in Denbury Resources during the second quarter worth $2,678,000. Hedge funds and other institutional investors own 90.88% of the company’s stock.
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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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