Denbury Resources (NYSE:DNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “With its unique profile, compelling economics and unmatched infrastructure, Denbury Resources’ is positioned well to deliver long-term sustainable growth. Moreover, Denbury’s niche, highly specialized strategy to increase oil recovery from mature depleted oil fields through tertiary CO2 flooding will help it grow in the future. In this respect, Denbury’s recent acquisition of Penn Virginia for about $1.7 billion is noteworthy. However, the company’s significant exposure to debt and rising lease operating expenses are a matter of concern.”
A number of other equities research analysts have also issued reports on DNR. ValuEngine lowered shares of Denbury Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, November 1st. Johnson Rice lowered shares of Denbury Resources from an “accumulate” rating to a “hold” rating in a report on Tuesday, January 8th. TheStreet lowered shares of Denbury Resources from a “c-” rating to a “d+” rating in a report on Friday, November 2nd. Oppenheimer reissued a “buy” rating on shares of Denbury Resources in a report on Thursday, November 8th. Finally, UBS Group set a $3.00 target price on shares of Denbury Resources and gave the company a “hold” rating in a report on Monday, December 10th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $4.64.
NYSE DNR traded up $0.03 on Monday, reaching $2.20. 175,204 shares of the stock were exchanged, compared to its average volume of 15,187,643. Denbury Resources has a one year low of $1.39 and a one year high of $6.75. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 15.75 and a beta of 3.55. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 2.80.
Denbury Resources (NYSE:DNR) last released its earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Denbury Resources had a net margin of 18.81% and a return on equity of 27.79%. The company had revenue of $395.00 million for the quarter, compared to analysts’ expectations of $348.39 million. During the same quarter last year, the business earned $0.04 EPS. The firm’s revenue was up 48.2% compared to the same quarter last year. Sell-side analysts forecast that Denbury Resources will post 0.48 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of DNR. Strs Ohio bought a new stake in shares of Denbury Resources in the third quarter valued at about $151,000. Victory Capital Management Inc. bought a new stake in shares of Denbury Resources in the third quarter valued at about $234,000. State of Alaska Department of Revenue raised its holdings in shares of Denbury Resources by 3.2% in the fourth quarter. State of Alaska Department of Revenue now owns 153,926 shares of the oil and natural gas company’s stock valued at $263,000 after acquiring an additional 4,775 shares in the last quarter. Penserra Capital Management LLC raised its holdings in shares of Denbury Resources by 161.0% in the third quarter. Penserra Capital Management LLC now owns 59,244 shares of the oil and natural gas company’s stock valued at $367,000 after acquiring an additional 36,548 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Denbury Resources in the second quarter valued at about $373,000. 87.56% of the stock is 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.
Featured Story: Trading signals using Bollinger bands
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Denbury Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Denbury Resources and related companies with MarketBeat.com's FREE daily email newsletter.