Denbury Inc. (NYSE:DEN) Short Interest Update

Denbury Inc. (NYSE:DEN) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,950,000 shares, a growth of 22.7% from the August 15th total of 3,220,000 shares. Based on an average daily volume of 1,440,000 shares, the short-interest ratio is currently 2.7 days. Approximately 8.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Denbury in a research note on Thursday, June 15th. They issued a “neutral” rating and a $96.00 price objective on the stock. Johnson Rice cut shares of Denbury from an “accumulate” rating to a “hold” rating in a research note on Friday, July 21st. Jefferies Financial Group cut shares of Denbury from a “buy” rating to a “hold” rating and set a $91.00 price objective on the stock. in a research note on Monday, August 28th. Stifel Nicolaus increased their target price on shares of Denbury from $86.00 to $93.00 and gave the stock a “hold” rating in a report on Friday, August 11th. Finally, Capital One Financial lowered shares of Denbury from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Denbury currently has a consensus rating of “Hold” and a consensus price target of $96.43.

Denbury Stock Performance

Denbury stock traded up $0.98 during midday trading on Monday, hitting $98.25. The stock had a trading volume of 2,721,645 shares, compared to its average volume of 926,963. The firm’s fifty day moving average is $89.57 and its two-hundred day moving average is $88.80. The company has a market capitalization of $5.00 billion, a PE ratio of 11.00 and a beta of 2.59. Denbury has a 52-week low of $73.13 and a 52-week high of $104.05. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.05.

Denbury (NYSE:DEN) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.17). Denbury had a net margin of 32.34% and a return on equity of 19.82%. The company had revenue of $328.98 million for the quarter, compared to analysts’ expectations of $345.83 million. During the same period last year, the business earned $1.69 earnings per share. The company’s quarterly revenue was down 31.8% compared to the same quarter last year. On average, research analysts forecast that Denbury will post 5.43 EPS for the current year.

Institutional Investors Weigh In On Denbury

A number of institutional investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors grew its holdings in Denbury by 31.8% during the 2nd quarter. Captrust Financial Advisors now owns 527 shares of the company’s stock valued at $32,000 after buying an additional 127 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in shares of Denbury by 115.0% in the first quarter. Belpointe Asset Management LLC now owns 329 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Denbury by 1.1% in the second quarter. Russell Investments Group Ltd. now owns 16,192 shares of the company’s stock valued at $1,397,000 after purchasing an additional 180 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Denbury by 31.3% in the second quarter. Signaturefd LLC now owns 772 shares of the company’s stock valued at $67,000 after purchasing an additional 184 shares in the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Denbury by 0.7% in the second quarter. MetLife Investment Management LLC now owns 26,523 shares of the company’s stock valued at $2,288,000 after purchasing an additional 186 shares in the last quarter.

Denbury Company Profile

Denbury Inc operates as an independent energy company in the Gulf Coast and Rocky Mountain regions. It 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.