Several brokerages have updated their recommendations and price targets on shares of Denbury Resources (NYSE: DNR) in the last few weeks:

  • 8/2/2017 – Denbury Resources was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/28/2017 – Denbury Resources was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 7/24/2017 – Denbury Resources was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/18/2017 – Denbury Resources was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Denbury’s total proved reserve – majority of which is oil – has been decreasing steadily over the last two years. Since 2014, estimated reserves fell over 40%, which is a matter of concern. Declining reserves raise questions over the company’s production capabilities which might hurt cashflow for shareholders. Moreover, Denbury’s cash balances have been on the decline since 2015, making the current low of $2 million as of Mar 31, 2017.  Long-term debt stands at almost $3 billion, signifying weak financials. Also, since the beginning of 2013, there has been a steady decline in cashflow from the company’s core operations. Weak businesses following persistently low oil and natural gas prices have compelled the company to suspend dividend payment since the beginning of the fourth quarter of 2015.”
  • 7/14/2017 – Denbury Resources had its price target lowered by analysts at BMO Capital Markets from $2.00 to $1.00. They now have a “no rating at time” rating on the stock.
  • 7/14/2017 – Denbury Resources had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $2.50 price target on the stock.

Shares of Denbury Resources Inc. (DNR) traded down 5.07% during mid-day trading on Monday, hitting $1.31. The stock had a trading volume of 1,295,513 shares. The firm has a 50 day moving average price of $1.47 and a 200-day moving average price of $2.24. Denbury Resources Inc. has a 12 month low of $1.27 and a 12 month high of $4.29. The stock’s market cap is $510.11 million.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Thursday, May 4th. The oil and natural gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.01. The firm had revenue of $264 million during the quarter, compared to analysts’ expectations of $254.67 million. Denbury Resources had a positive return on equity of 2.49% and a negative net margin of 72.85%. Denbury Resources’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities research analysts forecast that Denbury Resources Inc. will post $0.01 EPS for the current year.

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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