Denbury Resources Inc. (NYSE:DNR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $2.23, but opened at $2.29. Denbury Resources shares last traded at $2.32, with a volume of 12995399 shares.
A number of equities analysts have weighed in on the company. Royal Bank of Canada reaffirmed a “hold” rating and set a $1.50 price target on shares of Denbury Resources in a research report on Friday, September 29th. ValuEngine downgraded Denbury Resources from a “hold” rating to a “sell” rating in a report on Sunday. BMO Capital Markets set a $1.00 price objective on Denbury Resources and gave the company a “hold” rating in a report on Tuesday, October 10th. Imperial Capital assumed coverage on Denbury Resources in a report on Tuesday, October 3rd. They issued an “in-line” rating and a $2.00 price objective for the company. Finally, KeyCorp reissued a “hold” rating on shares of Denbury Resources in a report on Wednesday, September 6th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $2.00.
The firm has a market cap of $959.25, a price-to-earnings ratio of -2.64 and a beta of 3.56. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. Denbury Resources had a positive return on equity of 0.28% and a negative net margin of 32.50%. The business had revenue of $266.56 million for the quarter, compared to analysts’ expectations of $261.84 million. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts anticipate that Denbury Resources Inc. will post 0.09 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in Denbury Resources by 57.0% in the 2nd quarter. Teachers Advisors LLC now owns 967,464 shares of the oil and natural gas company’s stock valued at $1,480,000 after acquiring an additional 351,363 shares during the period. State Street Corp raised its stake in Denbury Resources by 1.8% in the 2nd quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock valued at $33,402,000 after acquiring an additional 380,034 shares during the period. JPMorgan Chase & Co. raised its stake in Denbury Resources by 24.5% in the 2nd 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 acquiring an additional 2,382,134 shares during the period. Macquarie Group Ltd. bought a new stake in Denbury Resources in the 3rd quarter valued at $423,000. Finally, Schwab Charles Investment Management Inc. raised its stake in Denbury Resources by 163.9% in the 2nd 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 acquiring an additional 4,125,074 shares during the period. Institutional investors and hedge funds own 80.23% 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 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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