KLR Group reaffirmed their buy rating on shares of Denbury Resources Inc. (NYSE:DNR) in a research note issued to investors on Wednesday morning. They currently have a $5.00 target price on the stock.
Separately, Zacks Investment Research lowered shares of Denbury Resources from a buy rating to a hold rating in a report on Thursday, November 17th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. Denbury Resources currently has a consensus rating of Hold and an average price target of $3.11.
Denbury Resources (NYSE:DNR) opened at 2.37 on Wednesday. The company’s 50 day moving average is $2.98 and its 200-day moving average is $3.18. Denbury Resources has a 52 week low of $1.95 and a 52 week high of $4.80. The firm’s market cap is $921.19 million.
Denbury Resources (NYSE:DNR) last announced its quarterly earnings results on Thursday, February 23rd. The company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01. The company had revenue of $271.62 million for the quarter, compared to analyst estimates of $236.02 million. Denbury Resources had a negative net margin of 151.55% and a positive return on equity of 1.82%. Denbury Resources’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) EPS. Equities analysts expect that Denbury Resources will post $0.17 earnings per share for the current year.
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Several institutional investors have recently made changes to their positions in DNR. Sterling Capital Management LLC raised its position in shares of Denbury Resources by 142.6% in the second quarter. Sterling Capital Management LLC now owns 936,630 shares of the company’s stock worth $3,362,000 after buying an additional 550,614 shares during the period. Foundry Partners LLC raised its position in shares of Denbury Resources by 4.0% in the third quarter. Foundry Partners LLC now owns 775,446 shares of the company’s stock worth $2,505,000 after buying an additional 29,547 shares during the period. First Quadrant L P CA raised its position in shares of Denbury Resources by 23.7% in the third quarter. First Quadrant L P CA now owns 148,654 shares of the company’s stock worth $480,000 after buying an additional 28,500 shares during the period. Nationwide Fund Advisors raised its position in shares of Denbury Resources by 9.4% in the third quarter. Nationwide Fund Advisors now owns 1,508,206 shares of the company’s stock worth $4,872,000 after buying an additional 129,694 shares during the period. Finally, Henderson Group PLC raised its position in shares of Denbury Resources by 33.5% in the third quarter. Henderson Group PLC now owns 3,586,528 shares of the company’s stock worth $11,584,000 after buying an additional 900,271 shares during the period. Institutional investors own 89.52% of the company’s stock.
About Denbury Resources
Denbury Resources Inc is an independent oil and natural gas company. The Company’s operations are focused on two operating areas: the Gulf Coast and Rocky Mountain regions. Its properties with proved and producing reserves in the Gulf Coast region are situated in Mississippi, Texas, Louisiana and Alabama, and in the Rocky Mountain region are situated in Montana, North Dakota and Wyoming.
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