Denbury (NYSE:DEN) Coverage Initiated by Analysts at KeyCorp

KeyCorp assumed coverage on shares of Denbury (NYSE:DENGet Rating) in a research note published on Monday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $102.00 price target on the stock. KeyCorp also issued estimates for Denbury’s Q3 2022 earnings at $1.95 EPS, Q4 2022 earnings at $1.99 EPS, FY2022 earnings at $7.43 EPS, Q1 2023 earnings at $2.51 EPS, Q2 2023 earnings at $2.40 EPS, Q3 2023 earnings at $2.37 EPS, Q4 2023 earnings at $2.27 EPS and FY2023 earnings at $9.56 EPS.

Several other brokerages also recently issued reports on DEN. MKM Partners reissued a buy rating and set a $75.00 target price on shares of Denbury in a research note on Wednesday, July 20th. US Capital Advisors reaffirmed an overweight rating on shares of Denbury in a research note on Tuesday, June 14th. Finally, Bank of America cut Denbury from a neutral rating to an underperform rating and reduced their price objective for the company from $107.00 to $71.00 in a research report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $96.72.

Denbury Stock Down 2.2 %

Shares of NYSE:DEN opened at $77.66 on Monday. The company’s fifty day moving average is $79.22 and its two-hundred day moving average is $73.81. Denbury has a 12-month low of $56.59 and a 12-month high of $93.95. The company has a market cap of $3.86 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 0.57 and a beta of 3.07.

Denbury (NYSE:DENGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.03). Denbury had a net margin of 22.38% and a return on equity of 23.55%. The firm had revenue of $482.16 million for the quarter, compared to analyst estimates of $408.55 million. During the same period last year, the firm earned $0.61 earnings per share. Denbury’s revenue for the quarter was up 60.0% compared to the same quarter last year. Equities research analysts anticipate that Denbury will post 6.76 earnings per share for the current year.

Institutional Investors Weigh In On Denbury

Institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in Denbury by 29.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,792 shares of the company’s stock worth $367,000 after purchasing an additional 1,104 shares during the last quarter. Raymond James & Associates acquired a new stake in Denbury in the 4th quarter worth approximately $1,104,000. Citigroup Inc. lifted its holdings in Denbury by 4.7% in the 4th quarter. Citigroup Inc. now owns 40,500 shares of the company’s stock worth $3,102,000 after purchasing an additional 1,803 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Denbury by 329.6% in the 4th quarter. JPMorgan Chase & Co. now owns 130,674 shares of the company’s stock worth $10,008,000 after purchasing an additional 100,255 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in Denbury in the 4th quarter worth approximately $754,000.

Denbury Company Profile

(Get Rating)

Denbury Inc, an independent energy company, focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company holds interests in various oil and natural gas properties located in Mississippi, Texas, and Louisiana 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 (NYSE:DEN)

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