Denbury Resources Inc. (DNR) Receives Average Rating of “Hold” from Analysts
Denbury Resources Inc. (NYSE:DNR) has been assigned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, one has issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $2.13.
Several research analysts have issued reports on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $1.50 target price on shares of Denbury Resources in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “strong-buy” rating and set a $2.50 target price on the stock in a report on Tuesday. ValuEngine cut shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. BMO Capital Markets set a $1.00 target price on shares of Denbury Resources and gave the stock a “hold” rating in a report on Tuesday, October 10th. Finally, Imperial Capital assumed coverage on shares of Denbury Resources in a report on Tuesday, October 3rd. They set an “in-line” rating and a $2.00 target price on the stock.
Several large investors have recently added to or reduced their stakes in DNR. Schwab Charles Investment Management Inc. boosted its holdings in shares of Denbury Resources by 163.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,641,359 shares of the oil and natural gas company’s stock valued at $10,162,000 after buying an additional 4,125,074 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Denbury Resources by 778.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,142,630 shares of the oil and natural gas company’s stock valued at $4,211,000 after buying an additional 2,784,747 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Denbury Resources by 24.5% in the 2nd 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 buying an additional 2,382,134 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Denbury Resources by 18.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,103,099 shares of the oil and natural gas company’s stock valued at $15,458,000 after buying an additional 1,573,866 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Denbury Resources in the 2nd quarter valued at about $769,000. Institutional investors and hedge funds own 80.23% of the company’s stock.
Denbury Resources (NYSE:DNR) last issued its earnings results on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The company had revenue of $266.56 million for the quarter, compared to analysts’ expectations of $261.84 million. Denbury Resources’s revenue was up 4.9% on a year-over-year basis. research analysts predict that Denbury Resources will post 0.09 earnings per share for the current year.
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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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