Denbury (NYSE:DEN) Reaches New 1-Year High at $59.73

Denbury Inc. (NYSE:DEN) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.73 and last traded at $58.81, with a volume of 31934 shares trading hands. The stock had previously closed at $57.00.

DEN has been the topic of several recent analyst reports. Roth Capital upped their price target on shares of Denbury from $39.00 to $57.00 and gave the company a “buy” rating in a report on Monday, May 3rd. KeyCorp assumed coverage on shares of Denbury in a report on Monday, April 19th. They set an “overweight” rating and a $60.00 target price on the stock. Finally, Zacks Investment Research cut shares of Denbury from a “strong-buy” rating to a “sell” rating in a report on Monday, April 26th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Denbury currently has a consensus rating of “Buy” and an average target price of $46.00.

The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $49.93 and its two-hundred day moving average price is $34.10. The company has a market cap of $2.84 billion, a P/E ratio of 87.29 and a beta of 4.01.

Denbury (NYSE:DEN) last posted its quarterly earnings data on Thursday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.16. Denbury had a negative net margin of 162.77% and a negative return on equity of 119.03%. Equities analysts forecast that Denbury Inc. will post 1.06 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in DEN. Cutler Group LP acquired a new stake in shares of Denbury in the first quarter worth $153,000. Simplex Trading LLC bought a new position in Denbury in the first quarter worth $172,000. Vontobel Holding Ltd. bought a new position in Denbury in the first quarter worth $321,000. Paloma Partners Management Co bought a new position in shares of Denbury during the fourth quarter valued at $209,000. Finally, RBF Capital LLC bought a new position in shares of Denbury during the fourth quarter valued at $257,000. Institutional investors own 8.20% of the company’s stock.

Denbury Company Profile (NYSE:DEN)

Denbury Inc, an independent energy company, focuses on producing oil from mature oil fields in the Gulf Coast and Rocky Mountain regions. The company 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.

Further Reading: What is a Leveraged Buyout (LBO)?

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