Denbury Resources Price Target Cut to $21.00 by Analysts at Barclays (DNR)
Research analysts at Barclays lowered their price objective on shares of Denbury Resources (NYSE:DNR) from $22.00 to $21.00 in a report released on Monday, Stock Ratings Network.com reports. Barclays’ price objective suggests a potential upside of 34.53% from the stock’s previous close.
Denbury Resources (NYSE:DNR) traded down 2.86% during mid-day trading on Monday, hitting $15.61. The stock had a trading volume of 6,281,676 shares. Denbury Resources has a 52 week low of $15.62 and a 52 week high of $19.65. The stock’s 50-day moving average is $16.31 and its 200-day moving average is $17.44. The company has a market cap of $5.715 billion and a P/E ratio of 13.85.
Denbury Resources (NYSE:DNR) last released its earnings data on Tuesday, November 5th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.06. The company had revenue of $674.00 million for the quarter, compared to the consensus estimate of $646.70 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts predict that Denbury Resources will post $1.51 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Tuesday, March 25th. Shareholders of record on Tuesday, February 25th will be given a dividend of 0.0563 per share. The ex-dividend date of this dividend is Friday, February 21st.
DNR has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. downgraded shares of Denbury Resources from a “neutral” rating to a “sell” rating in a research note to investors on Thursday. They now have a $17.00 price target on the stock, up previously from $16.04. Separately, analysts at TheStreet downgraded shares of Denbury Resources from a “buy” rating to a “hold” rating in a research note to investors on Thursday, January 23rd. Finally, analysts at SunTrust downgraded shares of Denbury Resources from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, January 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. Denbury Resources presently has a consensus rating of “Hold” and a consensus price target of $21.58.
Denbury Resources Inc is an independent oil and natural gas company. As of December 31, 2011, the Company had 461.
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