Q2 2017 EPS Estimates for Denbury Resources Inc. (DNR) Raised by KeyCorp
Denbury Resources Inc. (NYSE:DNR) – Analysts at KeyCorp increased their Q2 2017 earnings per share (EPS) estimates for Denbury Resources in a research note issued on Sunday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will earn $0.00 per share for the quarter, up from their prior estimate of ($0.01). KeyCorp also issued estimates for Denbury Resources’ Q3 2017 earnings at $0.09 EPS, Q4 2017 earnings at $0.11 EPS, FY2017 earnings at $0.17 EPS, Q1 2018 earnings at $0.10 EPS, Q2 2018 earnings at $0.12 EPS, Q3 2018 earnings at $0.13 EPS and FY2018 earnings at $0.47 EPS.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, May 4th. The oil and natural gas company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.01. The company had revenue of $264 million for the quarter, compared to analyst estimates of $254.67 million. Denbury Resources had a negative net margin of 151.55% and a positive return on equity of 1.82%. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) EPS. COPYRIGHT VIOLATION NOTICE: This report was posted by American Banking News and is the property of of American Banking News. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/05/24/q2-2017-eps-estimates-for-denbury-resources-inc-dnr-raised-by-keycorp.html.
Other research analysts have also recently issued reports about the company. Zacks Investment Research cut Denbury Resources from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. KLR Group reaffirmed a “buy” rating and issued a $5.00 price target on shares of Denbury Resources in a report on Wednesday, March 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $3.35.
Denbury Resources (NYSE:DNR) opened at 1.83 on Wednesday. The firm’s market cap is $712.60 million. The firm’s 50-day moving average is $2.12 and its 200 day moving average is $2.95. Denbury Resources has a 1-year low of $1.68 and a 1-year high of $4.74.
In related news, Director Greg Mcmichael sold 16,000 shares of Denbury Resources stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $2.23, for a total value of $35,680.00. Following the completion of the transaction, the director now directly owns 73,379 shares of the company’s stock, valued at $163,635.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.86% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. boosted its position in Denbury Resources by 2.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 32,390 shares of the oil and natural gas company’s stock worth $119,000 after buying an additional 632 shares in the last quarter. Federated Investors Inc. PA boosted its stake in shares of Denbury Resources by 0.3% in the fourth quarter. Federated Investors Inc. PA now owns 213,902 shares of the oil and natural gas company’s stock valued at $787,000 after buying an additional 646 shares in the last quarter. Systematic Financial Management LP boosted its stake in shares of Denbury Resources by 0.5% in the fourth quarter. Systematic Financial Management LP now owns 569,305 shares of the oil and natural gas company’s stock valued at $2,095,000 after buying an additional 2,570 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Denbury Resources by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 67,910 shares of the oil and natural gas company’s stock valued at $250,000 after buying an additional 5,760 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Denbury Resources by 15.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,796 shares of the oil and natural gas company’s stock valued at $113,000 after buying an additional 5,900 shares in the last quarter. 89.52% of the stock is owned by institutional investors and hedge funds.
About Denbury Resources
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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