Johnson Rice downgraded shares of Denbury Resources (NYSE:DNR) from an accumulate rating to a hold rating in a research note released on Tuesday, The Fly reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Denbury Resources from a buy rating to a hold rating in a research note on Tuesday, October 9th. Capital One Financial lowered shares of Denbury Resources from an overweight rating to an underweight rating in a research note on Thursday, December 20th. Oppenheimer initiated coverage on shares of Denbury Resources in a research note on Wednesday, October 3rd. They set an outperform rating and a $9.00 target price on the stock. TheStreet lowered shares of Denbury Resources from a c- rating to a d+ rating in a research note on Friday, November 2nd. Finally, ValuEngine lowered shares of Denbury Resources from a sell rating to a strong sell rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $4.64.

NYSE:DNR traded down $0.14 during mid-day trading on Tuesday, hitting $2.15. The company’s stock had a trading volume of 6,674,063 shares, compared to its average volume of 14,296,622. Denbury Resources has a 1 year low of $1.39 and a 1 year high of $6.75. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 15.36 and a beta of 3.55.

Denbury Resources (NYSE:DNR) last posted its quarterly earnings results on Thursday, November 8th. The oil and natural gas company reported $0.13 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $348.39 million. During the same period in the prior year, the company earned $0.04 earnings per share. The firm’s revenue was up 48.2% on a year-over-year basis. As a group, equities research analysts predict that Denbury Resources will post 0.48 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC acquired a new stake in Denbury Resources in the 2nd quarter valued at about $1,379,000. Prudential Financial Inc. raised its holdings in Denbury Resources by 12.3% in the 3rd quarter. Prudential Financial Inc. now owns 822,659 shares of the oil and natural gas company’s stock valued at $5,101,000 after acquiring an additional 89,940 shares during the last quarter. FMR LLC raised its holdings in Denbury Resources by 17.6% in the 2nd quarter. FMR LLC now owns 21,799,417 shares of the oil and natural gas company’s stock valued at $104,854,000 after acquiring an additional 3,266,213 shares during the last quarter. AXA raised its holdings in Denbury Resources by 81.5% in the 3rd quarter. AXA now owns 112,000 shares of the oil and natural gas company’s stock valued at $694,000 after acquiring an additional 50,300 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Denbury Resources by 26.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,753,000 shares of the oil and natural gas company’s stock valued at $10,869,000 after acquiring an additional 362,500 shares during the last quarter. Hedge funds and other institutional investors own 87.56% of the company’s stock.

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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The Fly

Analyst Recommendations for Denbury Resources (NYSE:DNR)

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