Denbury Resources (DNR) Stock Rating Reaffirmed by Oppenheimer

Denbury Resources (NYSE:DNR)‘s stock had its “buy” rating reissued by equities research analysts at Oppenheimer in a research note issued to investors on Thursday.

A number of other research analysts have also recently commented on the company. TheStreet cut Denbury Resources from a “c-” rating to a “d+” rating in a research note on Friday, November 2nd. ValuEngine downgraded Denbury Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Imperial Capital restated an “outperform” rating and issued a $4.00 price objective on shares of Denbury Resources in a report on Tuesday, October 30th. Zacks Investment Research downgraded Denbury Resources from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 24th. Finally, KLR Group restated a “hold” rating and issued a $5.00 price objective on shares of Denbury Resources in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $5.01.

Shares of DNR traded down $0.04 during trading hours on Thursday, reaching $2.95. The stock had a trading volume of 21,551,822 shares, compared to its average volume of 14,038,946. Denbury Resources has a 12 month low of $1.53 and a 12 month high of $6.75. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 21.07 and a beta of 3.74. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.43 and a current ratio of 0.43.

Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.02. Denbury Resources had a return on equity of 25.74% and a net margin of 14.77%. The company had revenue of $395.00 million during the quarter, compared to analysts’ expectations of $348.39 million. During the same period in the prior year, the company earned $0.04 EPS. Denbury Resources’s revenue was up 48.2% compared to the same quarter last year. As a group, equities analysts forecast that Denbury Resources will post 0.47 EPS for the current year.

In related news, CAO James S. Matthews sold 20,000 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $4.86, for a total value of $97,200.00. Following the completion of the sale, the chief accounting officer now directly owns 459,949 shares in the company, valued at $2,235,352.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board grew its holdings in Denbury Resources by 26.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,753,000 shares of the oil and natural gas company’s stock worth $10,869,000 after acquiring an additional 362,500 shares during the period. FMR LLC grew its holdings in Denbury Resources by 29.9% during the 3rd quarter. FMR LLC now owns 28,324,948 shares of the oil and natural gas company’s stock worth $175,615,000 after acquiring an additional 6,525,531 shares during the period. American International Group Inc. grew its holdings in Denbury Resources by 8.1% during the 3rd quarter. American International Group Inc. now owns 361,145 shares of the oil and natural gas company’s stock worth $2,239,000 after acquiring an additional 26,917 shares during the period. BlackRock Inc. grew its holdings in Denbury Resources by 15.6% during the 3rd quarter. BlackRock Inc. now owns 65,977,332 shares of the oil and natural gas company’s stock worth $409,060,000 after acquiring an additional 8,900,219 shares during the period. Finally, Martingale Asset Management L P grew its holdings in Denbury Resources by 176.9% during the 3rd quarter. Martingale Asset Management L P now owns 289,341 shares of the oil and natural gas company’s stock worth $1,794,000 after acquiring an additional 184,862 shares during the period. Institutional investors and hedge funds own 85.17% of the company’s stock.

Denbury Resources Company Profile

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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