Imperial Capital Begins Coverage on Denbury Resources Inc. (DNR)
Analysts at Imperial Capital began coverage on shares of Denbury Resources Inc. (NYSE:DNR) in a report released on Tuesday. The brokerage set an “in-line” rating and a $2.00 price target on the oil and natural gas company’s stock. Imperial Capital’s target price would indicate a potential upside of 40.85% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $2.50 price target on shares of Denbury Resources in a research note on Friday, July 14th. BMO Capital Markets lowered their price objective on Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating for the company in a research report on Friday, July 14th. Zacks Investment Research lowered Denbury Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 18th. ValuEngine lowered Denbury Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. Finally, BidaskClub upgraded shares of Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $2.33.
Shares of Denbury Resources (DNR) opened at 1.42 on Tuesday. The company’s market capitalization is $553.66 million. The stock has a 50 day moving average of $1.18 and a 200-day moving average of $1.65. Denbury Resources has a 1-year low of $0.91 and a 1-year high of $4.29.
Denbury Resources (NYSE:DNR) last released its quarterly earnings data on Tuesday, August 8th. The oil and natural gas company reported $0.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.02. Denbury Resources had a negative return on equity of 1.94% and a negative net margin of 35.24%. The firm had revenue of $261.20 million for the quarter, compared to the consensus estimate of $248.66 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts forecast that Denbury Resources will post $0.02 earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of DNR. Cambridge Investment Research Advisors Inc. raised its holdings in Denbury Resources by 15.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock worth $113,000 after purchasing an additional 5,900 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Denbury Resources by 77.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 78,166 shares of the oil and natural gas company’s stock worth $119,000 after purchasing an additional 34,226 shares during the period. Piedmont Investment Advisors LLC boosted its stake in shares of Denbury Resources by 261.7% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 86,127 shares of the oil and natural gas company’s stock valued at $132,000 after purchasing an additional 62,312 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Denbury Resources during the 1st quarter valued at about $140,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Denbury Resources by 11.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 96,950 shares of the oil and natural gas company’s stock valued at $148,000 after purchasing an additional 10,000 shares in the last quarter. 86.44% of the stock is currently owned by institutional investors and hedge funds.
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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