Denbury Resources (NYSE:DNR) has been given a $2.00 price objective by equities research analysts at Royal Bank of Canada in a research report issued to clients and investors on Monday, TipRanks reports. The firm currently has a “hold” rating on the oil and natural gas company’s stock. Royal Bank of Canada’s target price points to a potential upside of 106.19% from the company’s previous close.

Other analysts have also issued research reports about the stock. Imperial Capital lowered their price target on shares of Denbury Resources from $3.00 to $2.00 and set an “in-line” rating on the stock in a research report on Thursday, June 6th. UBS Group set a $2.00 price target on shares of Denbury Resources and gave the company a “hold” rating in a research report on Thursday, June 20th. Zacks Investment Research raised shares of Denbury Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Finally, TheStreet lowered shares of Denbury Resources from a “c-” rating to a “d+” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Denbury Resources has a consensus rating of “Hold” and a consensus price target of $3.75.

DNR traded down $0.05 during midday trading on Monday, reaching $0.97. The company had a trading volume of 776,136 shares, compared to its average volume of 12,626,143. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 2.40. The company has a market capitalization of $470.45 million, a PE ratio of 1.98 and a beta of 3.35. Denbury Resources has a 12-month low of $0.87 and a 12-month high of $6.75. The business’s 50-day moving average price is $1.14.

Denbury Resources (NYSE:DNR) last released its earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.04. Denbury Resources had a net margin of 27.05% and a return on equity of 19.52%. The firm had revenue of $343.36 million for the quarter, compared to analysts’ expectations of $331.52 million. During the same period in the previous year, the company earned $0.13 earnings per share. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Analysts anticipate that Denbury Resources will post 0.43 EPS for the current year.

In other news, insider Christian S. Kendall bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average price of $1.25 per share, with a total value of $125,000.00. Following the acquisition, the insider now owns 2,003,390 shares of the company’s stock, valued at approximately $2,504,237.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management LLC increased its stake in Denbury Resources by 137.6% during the 2nd quarter. Balyasny Asset Management LLC now owns 525,041 shares of the oil and natural gas company’s stock valued at $651,000 after purchasing an additional 304,095 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in shares of Denbury Resources during the 2nd quarter valued at about $40,000. Invesco Ltd. boosted its holdings in shares of Denbury Resources by 36.6% during the 2nd quarter. Invesco Ltd. now owns 4,641,442 shares of the oil and natural gas company’s stock valued at $5,755,000 after acquiring an additional 1,244,196 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Denbury Resources by 1.8% during the 2nd quarter. BlackRock Inc. now owns 68,177,833 shares of the oil and natural gas company’s stock valued at $84,539,000 after acquiring an additional 1,194,846 shares during the last quarter. Finally, RBF Capital LLC boosted its holdings in shares of Denbury Resources by 243.0% during the 2nd quarter. RBF Capital LLC now owns 600,315 shares of the oil and natural gas company’s stock valued at $744,000 after acquiring an additional 425,315 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Denbury Resources Company Profile

Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.

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Analyst Recommendations for Denbury Resources (NYSE:DNR)

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