Weekly Analysts’ Ratings Updates for Denbury Resources (DNR)
Denbury Resources (NYSE: DNR) recently received a number of ratings updates from brokerages and research firms:
- 9/6/2017 – Denbury Resources had its “hold” rating reaffirmed by analysts at KeyCorp.
- 9/1/2017 – Denbury Resources had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $1.00 price target on the stock.
- 8/25/2017 – Denbury Resources was given a new $2.00 price target on by analysts at Royal Bank Of Canada. They now have a “hold” rating on the stock.
- 8/24/2017 – Denbury Resources was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 8/18/2017 – Denbury Resources was given a new $1.00 price target on by analysts at Stifel Nicolaus. They now have a “hold” rating on the stock.
- 8/17/2017 – Denbury Resources was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 8/14/2017 – Denbury Resources was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Denbury Resources executed several capital projects which drove it’s stronger than expected second-quarter results. Denbury acquired 23% non-operated working interest in Salt Creek Field in Wyoming from Linn Energy. With its unique profile, compelling economics and unmatched infrastructure, Denbury is well positioned to deliver long-term sustainable growth. We appreciate the company’s cost-reduction initiatives and it has also raised its guidance for 2017 production. Moreover, Denbury’s niche, highly specialized strategy to increase oil recovery from mature depleted oil fields through tertiary CO2 flooding will help it grow in the future. However, Denbury Resources’ price has underperformed the broader market indices, over the last three months. We are also concerned with the high debt load of Denbury as reflected that the upstream player’s debt to equity ratio is significantly higher than the broader industry.”
- 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.”
Denbury Resources Inc. (NYSE DNR) traded up 9.646% during mid-day trading on Thursday, hitting $1.239. 5,810,608 shares of the stock were exchanged. Denbury Resources Inc. has a 52 week low of $0.91 and a 52 week high of $4.29. The firm’s market capitalization is $483.09 million. The company’s 50-day moving average price is $1.23 and its 200 day moving average price is $1.78.
Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, August 8th. The oil and natural gas company reported $0.00 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.02. The business had revenue of $261.20 million for the quarter, compared to the consensus estimate of $248.66 million. Denbury Resources had a negative net margin of 35.24% and a negative return on equity of 1.94%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 EPS. Equities research analysts expect that Denbury Resources Inc. will post $0.02 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.
Receive News & Ratings for Denbury Resources Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denbury Resources Inc and related companies with MarketBeat.com's FREE daily email newsletter.