Denbury Resources Inc. (NYSE:DNR) – Analysts at Capital One Financial increased their Q2 2019 earnings estimates for shares of Denbury Resources in a note issued to investors on Wednesday, June 12th. Capital One Financial analyst R. Tullis now forecasts that the oil and natural gas company will post earnings of $0.17 per share for the quarter, up from their previous forecast of $0.12. Capital One Financial also issued estimates for Denbury Resources’ Q3 2019 earnings at $0.16 EPS and Q4 2019 earnings at $0.15 EPS.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. The firm had revenue of $305.40 million for the quarter, compared to analyst estimates of $314.49 million. Denbury Resources had a net margin of 18.06% and a return on equity of 20.60%. The business’s revenue for the quarter was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS.
DNR has been the topic of several other research reports. Imperial Capital set a $2.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a report on Thursday, March 28th. TheStreet lowered shares of Denbury Resources from a “c-” rating to a “d+” rating in a report on Thursday, May 23rd. Oppenheimer reaffirmed a “hold” rating on shares of Denbury Resources in a report on Thursday, March 21st. Finally, Zacks Investment Research lowered shares of Denbury Resources from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Denbury Resources currently has an average rating of “Hold” and a consensus price target of $4.36.
Shares of NYSE:DNR opened at $1.26 on Friday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.59 and a current ratio of 0.59. Denbury Resources has a one year low of $1.12 and a one year high of $6.75. The firm has a market capitalization of $525.80 million, a PE ratio of 2.63 and a beta of 3.68.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc boosted its position in Denbury Resources by 4.6% during the 3rd quarter. Vanguard Group Inc now owns 61,830,605 shares of the oil and natural gas company’s stock valued at $383,349,000 after buying an additional 2,706,664 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Denbury Resources by 23.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,293 shares of the oil and natural gas company’s stock valued at $48,000 after buying an additional 5,309 shares during the period. Arizona State Retirement System boosted its position in Denbury Resources by 6.1% during the 4th quarter. Arizona State Retirement System now owns 709,236 shares of the oil and natural gas company’s stock valued at $1,213,000 after buying an additional 41,020 shares during the period. D.A. Davidson & CO. purchased a new stake in Denbury Resources during the 4th quarter valued at $34,000. Finally, Crossmark Global Holdings Inc. boosted its position in Denbury Resources by 166.0% during the 4th quarter. Crossmark Global Holdings Inc. now owns 172,958 shares of the oil and natural gas company’s stock valued at $296,000 after buying an additional 107,930 shares during the period. 80.09% of the stock is currently owned by institutional investors.
In other Denbury Resources news, insider Christian S. Kendall bought 150,000 shares of Denbury Resources stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average price of $2.00 per share, with a total value of $300,000.00. Following the acquisition, the insider now owns 1,751,765 shares in the company, valued at $3,503,530. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.
About Denbury Resources
Denbury Resources Inc operates as an independent oil and natural gas company in the United States. It holds interests in various oil and natural gas properties located in Mississippi, Texas, Louisiana, and Alabama in the Gulf Coast region; and in Montana, North Dakota, and Wyoming in the Rocky Mountain region.
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