Denbury Resources Rating Reiterated by Citigroup Inc. (DNR)
Denbury Resources (NYSE:DNR)‘s stock had its “neutral” rating reaffirmed by Citigroup Inc. in a research note issued on Friday. They currently have a $17.60 target price on the stock, down from their previous target price of $17.90. Citigroup Inc.’s price objective indicates a potential upside of 7.58% from the company’s current price.
Denbury Resources (NYSE:DNR) traded up 0.06% during mid-day trading on Friday, hitting $16.37. The stock had a trading volume of 1,012,399 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 $17.70 and a 200-day moving average of $16.89. The company has a market cap of $5.694 billion and a price-to-earnings ratio of 29.91.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.01. The company had revenue of $669.00 million for the quarter, compared to the consensus estimate of $628.06 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Denbury Resources will post $1.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Tuesday, August 26th will be given a dividend of $0.0625 per share. This represents a $0.25 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Friday, August 22nd.
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Denbury Resources from $20.00 to $24.00 in a research note on Wednesday, July 23rd. Separately, analysts at SunTrust raised their price target on shares of Denbury Resources from $17.00 to $19.00 in a research note on Wednesday, July 9th. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $20.95.
Denbury Resources Inc is an independent oil and natural gas company. As of December 31, 2011, the Company had 461.
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