Denbury Resources (NYSE:DNR) Cut to “Strong Sell” at ValuEngine

ValuEngine downgraded shares of Denbury Resources (NYSE:DNR) from a sell rating to a strong sell rating in a research note published on Friday, ValuEngine reports.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada set a $2.00 target price on shares of Denbury Resources and gave the stock a hold rating in a research report on Monday, August 12th. Imperial Capital set a $1.00 target price on shares of Denbury Resources and gave the stock a hold rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $2.25.

NYSE DNR opened at $0.99 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.82. The firm has a market cap of $492.93 million, a PE ratio of 2.06 and a beta of 3.38. The company has a 50 day moving average price of $1.05 and a 200 day moving average price of $1.20. Denbury Resources has a 52 week low of $0.87 and a 52 week high of $2.68.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings data on Thursday, November 7th. The oil and natural gas company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. The firm had revenue of $315.45 million during the quarter, compared to analyst estimates of $307.85 million. Denbury Resources had a net margin of 28.28% and a return on equity of 15.74%. Denbury Resources’s revenue was down 20.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. On average, equities research analysts anticipate that Denbury Resources will post 0.41 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in DNR. Millennium Management LLC grew its position in Denbury Resources by 40,315.8% during the 3rd quarter. Millennium Management LLC now owns 6,666,175 shares of the oil and natural gas company’s stock worth $7,932,000 after purchasing an additional 6,649,681 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Denbury Resources during the 2nd quarter worth approximately $21,530,000. Bank of America Corp DE grew its position in Denbury Resources by 120.0% during the 2nd quarter. Bank of America Corp DE now owns 5,065,374 shares of the oil and natural gas company’s stock worth $6,280,000 after purchasing an additional 2,762,659 shares during the last quarter. South Dakota Investment Council grew its position in Denbury Resources by 675.8% during the 2nd quarter. South Dakota Investment Council now owns 2,986,700 shares of the oil and natural gas company’s stock worth $3,704,000 after purchasing an additional 2,601,700 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Denbury Resources by 308.8% in the 2nd quarter. Morgan Stanley now owns 2,401,655 shares of the oil and natural gas company’s stock valued at $2,977,000 after acquiring an additional 1,814,165 shares during the last quarter. 70.93% of the stock is currently owned by institutional investors.

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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