Denbury Resources’ (DNR) Hold Rating Reaffirmed at KeyCorp
Several other brokerages also recently weighed in on DNR. Zacks Investment Research downgraded Denbury Resources from a hold rating to a strong sell rating in a report on Tuesday, July 18th. ValuEngine cut Denbury Resources from a sell rating to a strong sell rating in a research note on Friday, July 28th. Imperial Capital began coverage on Denbury Resources in a research note on Tuesday, October 3rd. They issued an in-line rating and a $2.00 price objective for the company. BidaskClub upgraded Denbury Resources from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a hold rating and issued a $1.50 price objective on shares of Denbury Resources in a research note on Friday, September 29th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $1.94.
Shares of Denbury Resources (NYSE DNR) traded up $0.10 during midday trading on Monday, reaching $1.88. The company’s stock had a trading volume of 10,680,800 shares, compared to its average volume of 7,095,044. The company has a debt-to-equity ratio of 5.91, a current ratio of 0.53 and a quick ratio of 0.53. Denbury Resources has a fifty-two week low of $0.92 and a fifty-two week high of $4.29.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $266.56 million during the quarter, compared to the consensus estimate of $261.84 million. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. equities analysts anticipate that Denbury Resources will post 0.04 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in DNR. BlackRock Inc. raised its position in Denbury Resources by 15,599.0% during 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 acquiring an additional 47,120,229 shares in the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 8,753,615 shares during the period. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 5,067,230 shares during the period. Schwab Charles Investment Management Inc. raised its position 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 purchasing an additional 4,125,074 shares during the period. Finally, JPMorgan Chase & Co. raised its position 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 purchasing an additional 2,382,134 shares during the period. Institutional investors own 86.49% of the company’s stock.
Denbury Resources Company Profile
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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