Denbury Resources Inc. (DNR) Expected to Post Quarterly Sales of $302.08 Million

Analysts expect that Denbury Resources Inc. (NYSE:DNR) will report sales of $302.08 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Denbury Resources’ earnings. The lowest sales estimate is $270.17 million and the highest is $322.40 million. Denbury Resources posted sales of $271.62 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.2%. The company is scheduled to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that Denbury Resources will report full year sales of $302.08 million for the current financial year, with estimates ranging from $1.03 billion to $1.13 billion. For the next year, analysts forecast that the company will post sales of $1.25 billion per share, with estimates ranging from $1.12 billion to $1.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Denbury Resources.

Denbury Resources (NYSE:DNR) last released its quarterly earnings data on Tuesday, November 7th. The oil and natural gas company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $266.56 million for the quarter, compared to the consensus estimate of $261.84 million. Denbury Resources had a negative net margin of 32.50% and a positive return on equity of 0.28%. The business’s revenue was up 4.9% on a year-over-year basis.

Several equities analysts recently weighed in on the stock. Mizuho upgraded shares of Denbury Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Denbury Resources from a “hold” rating to a “strong-buy” rating and set a $2.50 target price for the company in a research report on Tuesday, January 9th. ValuEngine lowered shares of Denbury Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Royal Bank of Canada reiterated a “hold” rating and set a $2.00 target price on shares of Denbury Resources in a research report on Wednesday, December 20th. Finally, KeyCorp reiterated a “hold” rating on shares of Denbury Resources in a research report on Monday, November 13th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Denbury Resources has an average rating of “Hold” and a consensus target price of $2.13.

Large investors have recently modified their holdings of the business. Teachers Advisors LLC boosted its position in Denbury Resources by 57.0% during the second quarter. Teachers Advisors LLC now owns 967,464 shares of the oil and natural gas company’s stock worth $1,480,000 after purchasing an additional 351,363 shares during the period. State Street Corp boosted its position in shares of Denbury Resources by 1.8% in the second quarter. State Street Corp now owns 21,829,124 shares of the oil and natural gas company’s stock valued at $33,402,000 after acquiring an additional 380,034 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 acquiring an additional 2,382,134 shares during the period. Macquarie Group Ltd. bought a new position in shares of Denbury Resources in the third quarter valued at approximately $423,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Denbury Resources by 163.9% in the second 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 acquiring an additional 4,125,074 shares during the period. Hedge funds and other institutional investors own 80.23% of the company’s stock.

Denbury Resources (DNR) traded down $0.01 on Friday, reaching $2.44. 8,633,089 shares of the company traded hands, compared to its average volume of 8,940,000. The company has a market capitalization of $983.43, a price-to-earnings ratio of -2.71 and a beta of 3.56. The company has a debt-to-equity ratio of 5.91, a quick ratio of 0.53 and a current ratio of 0.53. Denbury Resources has a one year low of $0.91 and a one year high of $3.83.

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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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