KeyCorp Comments on Denbury Resources Inc.’s FY2018 Earnings (DNR)

Denbury Resources Inc. (NYSE:DNR) – Stock analysts at KeyCorp increased their FY2018 earnings per share (EPS) estimates for shares of Denbury Resources in a research note issued to investors on Monday. KeyCorp analyst D. Deckelbaum now forecasts that the oil and natural gas company will post earnings per share of $0.49 for the year, up from their previous estimate of $0.41. KeyCorp currently has a “Hold” rating on the stock.

A number of other brokerages also recently weighed in on DNR. Royal Bank of Canada reiterated a “hold” rating and set a $2.00 price target on shares of Denbury Resources in a report on Wednesday, December 20th. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Wednesday, February 7th. Mizuho raised Denbury Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 16th. Finally, ValuEngine cut Denbury Resources from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Four analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Denbury Resources has an average rating of “Hold” and a consensus target price of $2.09.

Shares of Denbury Resources (NYSE:DNR) traded up $0.04 during midday trading on Wednesday, hitting $2.03. The company had a trading volume of 2,104,288 shares, compared to its average volume of 9,595,583. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 5.91. The firm has a market cap of $820.43, a PE ratio of -2.24 and a beta of 3.50. Denbury Resources has a twelve month low of $0.92 and a twelve month high of $3.44.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Teachers Advisors LLC lifted its position in shares of Denbury Resources by 57.0% in 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 buying an additional 351,363 shares during the last quarter. State Street Corp lifted 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 worth $33,402,000 after buying an additional 380,034 shares during the last quarter. Anderson Hoagland & Co. lifted its position in shares of Denbury Resources by 119.2% in the fourth quarter. Anderson Hoagland & Co. now owns 149,350 shares of the oil and natural gas company’s stock worth $330,000 after buying an additional 81,205 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Denbury Resources in the third quarter worth about $423,000. Finally, California Public Employees Retirement System lifted its position in shares of Denbury Resources by 7.2% in the third quarter. California Public Employees Retirement System now owns 3,485,073 shares of the oil and natural gas company’s stock worth $4,670,000 after buying an additional 233,475 shares during the last quarter. 80.02% of the stock is owned by hedge funds and other institutional investors.

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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.

Earnings History and Estimates for Denbury Resources (NYSE:DNR)

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