Denbury Resources Inc. to Post Q3 2017 Earnings of $0.02 Per Share, KeyCorp Forecasts (DNR)
Denbury Resources Inc. (NYSE:DNR) – Investment analysts at KeyCorp increased their Q3 2017 earnings estimates for Denbury Resources in a research note issued to investors on Wednesday. KeyCorp analyst D. Deckelbaum now expects that the oil and natural gas company will post earnings of $0.02 per share for the quarter, up from their prior forecast of $0.01. KeyCorp has a “Hold” rating on the stock.
Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Tuesday, August 8th. The oil and natural gas company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.02. The business had revenue of $261.20 million during the quarter, compared to analyst estimates of $248.66 million. Denbury Resources had a negative return on equity of 1.94% and a negative net margin of 35.24%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.08 EPS.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Denbury Resources from a “hold” rating to a “buy” rating and set a $1.50 price objective on the stock in a report on Tuesday, October 10th. Royal Bank Of Canada reiterated a “hold” rating and issued a $1.50 price objective on shares of Denbury Resources in a report on Friday, September 29th. BMO Capital Markets reiterated a “hold” rating and issued a $1.00 price objective on shares of Denbury Resources in a report on Friday, September 1st. BidaskClub upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, 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. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $2.06.
Shares of Denbury Resources (NYSE:DNR) opened at 1.19 on Monday. The stock has a 50 day moving average price of $1.25 and a 200 day moving average price of $1.55. Denbury Resources has a 1-year low of $0.91 and a 1-year high of $4.29. The company’s market capitalization is $463.98 million.
Hedge funds and other institutional investors have recently made changes to their positions in the business. OppenheimerFunds Inc. raised its position in Denbury Resources by 499.0% in the first quarter. OppenheimerFunds Inc. now owns 310,368 shares of the oil and natural gas company’s stock valued at $801,000 after purchasing an additional 258,550 shares during the period. JPMorgan Chase & Co. raised its position in Denbury Resources by 24.5% in the second quarter. JPMorgan Chase & Co. now owns 12,097,850 shares of the oil and natural gas company’s stock valued at $18,510,000 after purchasing an additional 2,382,134 shares during the period. First Trust Advisors LP purchased a new stake in Denbury Resources in the first quarter valued at approximately $633,000. Prudential Financial Inc. raised its position in Denbury Resources by 178.8% in the first quarter. Prudential Financial Inc. now owns 675,895 shares of the oil and natural gas company’s stock valued at $1,744,000 after purchasing an additional 433,480 shares during the period. Finally, Vanguard Group Inc. raised its position in Denbury Resources by 18.3% in the first quarter. Vanguard Group Inc. now owns 56,483,974 shares of the oil and natural gas company’s stock valued at $145,729,000 after purchasing an additional 8,753,615 shares during the period. 86.44% of the stock is currently owned by institutional investors.
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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