SunTrust Increases Denbury Resources Price Target to $19.00 (DNR)
Investment analysts at SunTrust increased their price objective on shares of Denbury Resources (NYSE:DNR) from $17.00 to $19.00 in a note issued to investors on Wednesday. SunTrust’s target price would indicate a potential upside of 6.50% from the company’s current price.
A number of other analysts have also recently weighed in on DNR. Analysts at Zacks reiterated a “neutral” rating on shares of Denbury Resources in a research note on Wednesday, June 18th. They now have a $19.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Denbury Resources in a research note on Thursday, May 22nd. They now have a $21.00 price target on the stock, down previously from $21.50. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Denbury Resources in a research note on Wednesday, April 23rd. They now have a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Denbury Resources currently has a consensus rating of “Hold” and an average price target of $20.63.
In other Denbury Resources news, Director Ronald G. Greene sold 50,000 shares of Denbury Resources stock on the open market in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $18.45, for a total value of $922,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Denbury Resources (NYSE:DNR) traded up 0.45% on Wednesday, hitting $17.84. The stock had a trading volume of 3,308,583 shares. Denbury Resources has a 52-week low of $15.56 and a 52-week high of $19.61. The stock has a 50-day moving average of $17.56 and a 200-day moving average of $16.76. The company has a market cap of $6.257 billion and a price-to-earnings ratio of 16.90.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.25 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.25. The company had revenue of $635.00 million for the quarter, compared to the consensus estimate of $605.54 million. During the same quarter last year, the company posted $0.33 earnings per share. Denbury Resources’s revenue was up 9.5% compared to the same quarter last year. On average, analysts predict that Denbury Resources will post $1.11 earnings per share for the current fiscal year.
Denbury Resources Inc is an independent oil and natural gas company. As of December 31, 2011, the Company had 461.
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