Denbury Resources (NYSE:DNR) Raised to “Sell” at ValuEngine

ValuEngine upgraded shares of Denbury Resources (NYSE:DNR) from a strong sell rating to a sell rating in a research note published on Wednesday morning, ValuEngine reports.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada set a $2.00 target price on shares of Denbury Resources and gave the stock a hold rating in a report on Monday, August 12th. Imperial Capital reduced their target price on shares of Denbury Resources from $3.00 to $2.00 and set an in-line rating for the company in a report on Thursday, June 6th. Finally, UBS Group set a $2.00 price objective on shares of Denbury Resources and gave the stock a hold rating in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Denbury Resources has a consensus rating of Hold and a consensus price target of $3.54.

Shares of NYSE DNR traded up $0.03 during mid-day trading on Wednesday, reaching $1.09. 8,778,445 shares of the company traded hands, compared to its average volume of 13,073,178. Denbury Resources has a fifty-two week low of $0.87 and a fifty-two week high of $6.75. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $511.93 million, a PE ratio of 2.27 and a beta of 3.37. The stock has a fifty day simple moving average of $1.16 and a 200-day simple moving average of $1.50.

Denbury Resources (NYSE:DNR) last issued its earnings results on Wednesday, August 7th. The oil and natural gas company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.04. The firm had revenue of $343.36 million during the quarter, compared to analysts’ expectations of $331.52 million. Denbury Resources had a net margin of 27.05% and a return on equity of 18.67%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. As a group, analysts predict that Denbury Resources will post 0.42 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of DNR. Victory Capital Management Inc. boosted its stake in Denbury Resources by 70.6% in the 1st quarter. Victory Capital Management Inc. now owns 66,976 shares of the oil and natural gas company’s stock worth $137,000 after purchasing an additional 27,715 shares during the period. Piedmont Investment Advisors Inc. boosted its stake in Denbury Resources by 6.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 117,152 shares of the oil and natural gas company’s stock worth $240,000 after purchasing an additional 7,572 shares during the period. U S Global Investors Inc. acquired a new position in Denbury Resources in the 1st quarter worth approximately $184,000. Nordea Investment Management AB boosted its stake in Denbury Resources by 4.1% in the 1st quarter. Nordea Investment Management AB now owns 361,900 shares of the oil and natural gas company’s stock worth $742,000 after purchasing an additional 14,200 shares during the period. Finally, Supplemental Annuity Collective Trust of NJ acquired a new position in Denbury Resources in the 2nd quarter worth approximately $124,000. 75.14% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Denbury Resources (NYSE:DNR)

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