Denbury Resources Inc. (NYSE:DNR) – Research analysts at Imperial Capital raised their Q1 2019 EPS estimates for Denbury Resources in a research note issued on Wednesday, April 24th. Imperial Capital analyst J. Wangler now anticipates that the oil and natural gas company will post earnings per share of $0.10 for the quarter, up from their previous estimate of $0.09. Imperial Capital currently has a “Outperform” rating on the stock. Imperial Capital also issued estimates for Denbury Resources’ FY2020 earnings at $0.57 EPS.
Several other brokerages also recently weighed in on DNR. Zacks Investment Research upgraded Denbury Resources from a “sell” rating to a “hold” rating in a report on Tuesday. Oppenheimer restated a “hold” rating on shares of Denbury Resources in a report on Thursday, March 21st. Finally, Johnson Rice downgraded Denbury Resources from an “accumulate” rating to a “hold” rating in a report on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Denbury Resources currently has an average rating of “Hold” and an average price target of $4.36.
Denbury Resources (NYSE:DNR) last issued its quarterly earnings results on Wednesday, February 27th. The oil and natural gas company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Denbury Resources had a return on equity of 23.95% and a net margin of 21.90%. The firm had revenue of $336.00 million during the quarter, compared to the consensus estimate of $329.65 million. During the same period last year, the company earned $0.12 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis.
In other Denbury Resources news, insider Christian S. Kendall acquired 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were bought at an average cost of $2.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the insider now directly owns 1,751,765 shares of the company’s stock, valued at approximately $3,503,530. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.10% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in DNR. JPMorgan Chase & Co. boosted its position in shares of Denbury Resources by 48.2% during the third quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock valued at $103,419,000 after buying an additional 5,428,350 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Denbury Resources by 16.1% during the third quarter. Bank of New York Mellon Corp now owns 5,478,376 shares of the oil and natural gas company’s stock valued at $33,966,000 after buying an additional 759,880 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of Denbury Resources by 176.9% during the third quarter. Martingale Asset Management L P now owns 289,341 shares of the oil and natural gas company’s stock valued at $1,794,000 after buying an additional 184,862 shares during the last quarter. Man Group plc boosted its position in shares of Denbury Resources by 3,562.6% during the third quarter. Man Group plc now owns 743,509 shares of the oil and natural gas company’s stock valued at $4,610,000 after buying an additional 723,209 shares during the last quarter. Finally, MetLife Investment Advisors LLC boosted its position in shares of Denbury Resources by 55.8% during the third quarter. MetLife Investment Advisors LLC now owns 317,370 shares of the oil and natural gas company’s stock valued at $1,968,000 after buying an additional 113,609 shares during the last quarter. 89.55% of the stock is currently owned by 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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