Denbury Resources Inc. (DNR) Stock Rating Lowered by BidaskClub
Denbury Resources Inc. (NYSE:DNR) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.
Other equities analysts also recently issued research reports about the company. UBS AG reaffirmed a “sell” rating and set a $1.50 price target (down previously from $2.00) on shares of Denbury Resources in a research report on Friday, May 5th. Stifel Nicolaus set a $1.00 price objective on Denbury Resources and gave the company a “hold” rating in a report on Friday, August 18th. Zacks Investment Research downgraded Denbury Resources from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 18th. Credit Suisse Group reissued an “underperform” rating and issued a $2.00 price objective on shares of Denbury Resources in a report on Friday, June 2nd. Finally, BMO Capital Markets cut their price objective on Denbury Resources from $2.00 to $1.00 and set a “no rating at time” rating for the company in a report on Friday, July 14th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Denbury Resources presently has an average rating of “Hold” and a consensus price target of $2.42.
Shares of Denbury Resources (NYSE:DNR) traded down 1.90% during trading on Thursday, reaching $1.03. 5,423,825 shares of the company traded hands. The firm’s market capitalization is $401.60 million. The firm has a 50-day moving average price of $1.36 and a 200-day moving average price of $1.97. Denbury Resources has a 12 month low of $1.01 and a 12 month high of $4.29.
Denbury Resources (NYSE:DNR) last released its quarterly earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.02. Denbury Resources had a negative return on equity of 1.94% and a negative net margin of 35.24%. The firm had revenue of $261.20 million during the quarter, compared to the consensus estimate of $248.66 million. During the same quarter in the prior year, the firm posted $0.08 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that Denbury Resources will post $0.02 EPS for the current year.
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A number of large investors have recently made changes to their positions in DNR. Sei Investments Co. increased its stake in shares of Denbury Resources by 52.6% in the first quarter. Sei Investments Co. now owns 267,410 shares of the oil and natural gas company’s stock valued at $690,000 after buying an additional 92,210 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Denbury Resources during the first quarter valued at about $606,000. Icon Advisers Inc. Co. increased its stake in shares of Denbury Resources by 34.1% in the first quarter. Icon Advisers Inc. Co. now owns 1,368,650 shares of the oil and natural gas company’s stock valued at $3,531,000 after buying an additional 348,200 shares in the last quarter. Comerica Bank increased its stake in shares of Denbury Resources by 44.6% in the first quarter. Comerica Bank now owns 472,615 shares of the oil and natural gas company’s stock valued at $1,063,000 after buying an additional 145,754 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Denbury Resources by 9.0% in the first quarter. Bank of New York Mellon Corp now owns 5,083,342 shares of the oil and natural gas company’s stock valued at $13,114,000 after buying an additional 418,308 shares in the last quarter. 89.47% of the stock is owned by institutional investors and hedge funds.
Denbury Resources Company Profile
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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