Denbury Resources Inc. (NYSE:DNR) – Equities researchers at Imperial Capital lifted their Q1 2019 earnings per share estimates for shares of Denbury Resources in a report issued on Wednesday, April 24th, according to Zacks Investment Research. Imperial Capital analyst J. Wangler now expects that the oil and natural gas company will earn $0.10 per share for the quarter, up from their prior estimate of $0.09. Imperial Capital has a “In-Line” rating on the stock. Imperial Capital also issued estimates for Denbury Resources’ FY2020 earnings at $0.57 EPS.
DNR has been the subject of a number of other reports. Oppenheimer reissued a “hold” rating on shares of Denbury Resources in a research note on Thursday, March 21st. Zacks Investment Research raised Denbury Resources from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research note on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Denbury Resources currently has an average rating of “Hold” and a consensus price target of $4.36.
NYSE DNR traded down $0.13 during trading hours on Thursday, reaching $1.78. 12,713,092 shares of the company’s stock were exchanged, compared to its average volume of 12,477,507. Denbury Resources has a one year low of $1.39 and a one year high of $6.75. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $820.98 million, a price-to-earnings ratio of 3.71 and a beta of 3.57.
Denbury Resources (NYSE:DNR) last posted its earnings results on Tuesday, May 7th. The oil and natural gas company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Denbury Resources had a return on equity of 20.60% and a net margin of 18.06%. The business had revenue of $305.40 million during the quarter, compared to analysts’ expectations of $314.49 million. During the same period in the prior year, the business earned $0.12 EPS. Denbury Resources’s revenue for the quarter was down 13.5% compared to the same quarter last year.
In other Denbury Resources news, insider Christian S. Kendall purchased 150,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average cost of $2.00 per share, with a total value of $300,000.00. Following the purchase, the insider now directly owns 1,751,765 shares of the company’s stock, valued at $3,503,530. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of DNR. JPMorgan Chase & Co. grew its stake in shares of Denbury Resources by 48.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 16,680,373 shares of the oil and natural gas company’s stock worth $103,419,000 after acquiring an additional 5,428,350 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Denbury Resources by 16.1% in the 3rd 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 holdings in shares of Denbury Resources by 176.9% in the 3rd 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 holdings in shares of Denbury Resources by 3,562.6% in the 3rd 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 holdings in shares of Denbury Resources by 55.8% in the 3rd 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. 88.47% of the stock is 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.