Royal Bank Of Canada Analysts Give Denbury Resources Inc. (DNR) a $2.00 Price Target
Royal Bank Of Canada set a $2.00 price objective on Denbury Resources Inc. (NYSE:DNR) in a research note released on Friday. The firm currently has a hold rating on the oil and natural gas company’s stock.
Other analysts have also issued research reports about the stock. Stifel Nicolaus set a $1.00 price target on shares of Denbury Resources and gave the company a hold rating in a research report on Friday, August 18th. Zacks Investment Research raised shares of Denbury Resources from a sell rating to a hold rating in a research report on Monday, August 14th. BidaskClub raised shares of Denbury Resources from a sell rating to a hold rating in a research report on Wednesday, August 2nd. BMO Capital Markets reduced their price target on shares of Denbury Resources from $2.00 to $1.00 and set a no rating at time rating on the stock in a research report on Friday, July 14th. Finally, ValuEngine lowered shares of Denbury Resources from a hold rating to a sell rating in a research report on Friday, June 2nd. Five equities research 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 currently has a consensus rating of Hold and a consensus target price of $2.42.
Denbury Resources (NYSE:DNR) opened at 1.03 on Friday. The company’s 50-day moving average price is $1.36 and its 200 day moving average price is $1.97. Denbury Resources has a 52-week low of $1.01 and a 52-week high of $4.29. The company’s market capitalization is $401.60 million.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. The firm had revenue of $261.20 million for the quarter, compared to analyst estimates of $248.66 million. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 EPS. On average, equities analysts expect that Denbury Resources will post $0.02 EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of DNR. BlackRock Inc. increased its stake in Denbury Resources by 15,599.0% in the first quarter. BlackRock Inc. now owns 47,422,302 shares of the oil and natural gas company’s stock valued at $122,349,000 after buying an additional 47,120,229 shares during the period. Vanguard Group Inc. increased its stake in Denbury Resources by 18.3% in the first quarter. Vanguard Group Inc. now owns 56,483,974 shares of the oil and natural gas company’s stock valued at $145,729,000 after buying an additional 8,753,615 shares during the period. Dimensional Fund Advisors LP increased its stake in Denbury Resources by 146.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,529,233 shares of the oil and natural gas company’s stock valued at $22,004,000 after buying an additional 5,067,230 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Denbury Resources by 163.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after buying an additional 4,125,074 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Denbury Resources by 24.5% in the second quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock valued at $18,510,000 after buying an additional 2,382,134 shares during the period. Hedge funds and other institutional investors own 86.45% of the company’s stock.
About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused in 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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